Ethereum co-founder Vitalik Buterin, 27, said he had "burned" billions in the coin (SHIB) that bears the popular dog breed's face. Mr Buterin's holdings in memecoin SHIB were gifted to him by the coin’s founders as a marketing tactic when it launched. While supplies of some cryptocurrencies are finite, others allow new coins to be mined, and changes to the volumes of each currency in circulation tends to affect remaining coins' value. Mr Buterin's transaction wiped out coins accounting for 41 per cent of the total SHIB in circulation, reports news.com.au. Better to just print the coins into the hands of a worthy charity directly (though do talk to them first).”Following his transaction, SHIB released a statement in response.

Source: Daily Mirror May 17, 2021 11:26 UTC