Ethereum ($ETH) Inventor Says Won’t Get Shiba Inu ($SHIB) Tax Write-Off

Vitalik Buterin, inventor of the Ethereum blockchain, said he won’t get a tax write-off after donating more than 50 trillion of the joke coin Shiba Inu to the India Covid Crypto Relief Fund.

Because Shiba Inu, a meta play on the ridiculousness of Doge Coin, has been incredibly volatile lately, the value of Buterin’s donation has fluctuated wildly. At one point it was worth about $2 billion, then fell to around $800 million.

Photographer: David Paul Morris/Bloomberg

Buterin said in an interview that he’s taxed as a citizen of Singapore, whose rules are “significantly cleaner than in the U.S. or Canada.” He’s not eligible for a write-off, he said. Ethereum, the world’s most-used blockchain, was invented by Buterin in 2013 and built by him and a group of co-founders including Gavin Wood, Joe Lubin and Mihai Alisie.