How Crypto Enthusiasts are Helping India During COVID Times

By Aditya Raghunath

Investing.com — Cricket and COVID caused has come into the mainstream spotlight on Tuesday. Former Australian fast bowler Brett Lee tweeted that he is donating one Bitcoin to India’s fight against the second wave of COVID cases that are creating havoc in the country.

He is the first celebrity, though certainly not the first crypto enthusiast, who is helping India through cryptocurrencies. On April 24, Sandeep Nailwal, Co-founder of Polygon, a platform for scaling, tweeted: Can’t take this sitting down anymore, I am going to run a Covid relief campaign in lieu of what’s going on in India. Need help from the Global crypto community. I will take full responsibility for transparency, funds usage and regulatory compliance.

The response from the crypto community was strong. Ethereum co-founder Vitalik Buterin donated 100 ETH and 100 MKR, worth approximately Rs 4.5 crores for COVID-19 relief efforts in India. Former Coinbase CTO Balaji Srinivasan said he will donate $50 for every re-tweet, up to $100,000 (Rs 74 lakh) to the cause. TRON CEO Justin Sun and Hubspot Co-founder and CTO Dharmesh Shah said they will match Srinivasan’s offer.

The fact that the Indian government has a contentious relationship with cryptocurrency is well known. The government has been planning a law to ban cryptocurrencies in India in favor of a digital currency by the RBI. This has caused a lot of stress to Indian crypto investors who hold around Rs 10,000 crore in crypto assets.

Maybe these acts will change their mind?



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