Back in 2021, amid the best of the bull run and the worst of the Covid-19 Pandemic, Vitalik Buterin made a now legendary donation of $1bn in SHIB to support Covid-19 efforts in India.

Of the original $1bn donated - Vitalik sent 500 ETH and over 1 Trillion Shiba Inu (SHIB) tokens.

However, while Crypto Relief quickly moved to cash in on the jaw-dropping donation - the sheer size of the stack pushed SHIB to the limits of its liquidity.

In an OTC deal with WishfulCynic and WinterMute, Crypto Relief were able to trade the near billion dollar stack of SHIB for just $500m in stablecoins (predominantly USDC).

Of the $500m received in stablecoins, $274m remains in the Crypto Relief wallet.

The Crypto Relief fund returned $100m to Vitalik's Balvi Fund - which was established shortly after to fund bold projects offering innovative responses to the pandemic.

$100m was seemingly off-ramped between April 2021 and April 2022 - and surprisingly disgraced Alameda Research handled up to $1.5m of these funds.

From this cash-out, only $58m reached registered non-profits and NGOs in India - with 57 of the 60 projects declared by Crypto Relief funds confirming their receipt of the donation share.