Connect with us

National

A $1 Billion Covid Crypto Donation For India Hits Red Tape – dot newz

Published

on


Sandeep Nailwal, who created the fund said it is now focused on the next possible resurgence.

Two months after Ethereum co-founder Vitalik Buterin donated about $1 billion in cryptocurrency to an India Covid relief fund, about $20 million has been paid out so far.

That may not sound like much, but between cashing out of an illiquid asset, complying with government regulations and getting the money to the right places, it isn’t easy, according to Sandeep Nailwal, a New Delhi-based entrepreneur who founded the India Covid Crypto Relief Fund that received the donation.

8h25h7h8

Vitalik Buterin, co-founder of Ethereum Foundation and Bitcoin Magazine, speaks during the TechCrunch Disrupt 2017 in San Francisco, California, U.S., on Monday, Sept. 18, 2017. 

For starters, Mr Buterin’s gift of 50 trillion Shiba Inu coins — 5% of the memecoin in circulation — spurred a 50% crash in the price. The tokens should eventually amount to $400 million, Mr Nailwal estimated in an interview.

Local regulations have also taken up time. In order to comply with India’s Foreign Contribution Regulation Act the fund has gradually been converting the tokens into dollars and then rupees, with about 80% completed so far, Mr Nailwal said.

Mr Nailwal said he has also been cautious with disbursement: he’s paid out $20 million so far, with another $20 million in the pipeline. He wants to ensure the money reaches the grass-roots level, and is planning to hire a big-name audit firm to ensure complete transparency.

Mr Nailwal, who created the fund in April as an unexpectedly deadly coronavirus wave ravaged India with record deaths, said the fund is now focused on the next possible resurgence. It has made donations to organizations involved in distributing food across the country and 10 Bed ICU, which is dedicated to setting up mini-intensive care wards for patients suffering from severe cases of Covid-19 in rural India.

“We have been in preparation for the third wave,” Mr Nailwal said.



Source link

National

Coronavirus Live News Update: India Creates World Record In Vaccinations With 2.5 Crore Doses In A Day – dot newz

Published

on

By


The government had set out with a target of 2.5 crore vaccinations and crossed the mark by 10,390

India crossed 2.5 crore Covid vaccinations in a day for the first time on Friday as the government raced to deliver a record on Prime Minister Narendra Modi’s birthday. Union Health Minister Mansukh Mandaviya tweeted to confirm the “historic” figure.

The government had set out with a target of 2.5 crore vaccinations and crossed the mark by 10,390.

With 34,403 more people testing positive for COVID-19, India’s overall infection tally has increased to 3,33,81,728, while the count of active cases has dipped to 3,39,056, according to Union health ministry data updated on Friday.

The death count due to the disease has climbed to 4,44,248 with 320 more fatalities being recorded, it said.

The number of active cases now comprises 1.03 per cent of the total infections, while the national COVID-19 recovery rate has been recorded at 97.64 per cent, according to the data updated by the ministry.

It said that active COVID-19 cases in the country decreased by 3,867 cases in a span of 24 hours.

Here are the updates on coronavirus (COVID-19) cases:

Over 7 lakh people vaccinated in Assam on PM’s birthday

A total of 7,09,524 people received the COVID-19 vaccine in Assam on Friday as the state government undertook a mega inoculation drive on the occasion of Prime Minister Narendra Modi’s birthday, a bulletin said.

Over 2.16 crore people have been immunised, and 44.02 lakh of them got both doses of the vaccines, it said.

The special drive was conducted in 4,575 COVID Vaccination Centres (CVCs), of which 4,557 were government sites and 18 private ones.



Source link

Continue Reading

National

PM Praises Frontline, Health Workers As India Administers Over 2 Crore Doses – dot newz

Published

on

By


PM Praises Frontline, Health Workers As India Administers Record Doses

New Delhi:

As India set a new record on Friday by administering over 2 crores COVID-19 vaccine doses, Prime Minister Narendra Modi dedicated the success of the vaccination drive to the country’s doctors, innovators, administrators, nurses, healthcare and all front-line workers.

“Every Indian would be proud of today’s record vaccination numbers. I acknowledge our doctors, innovators, administrators, nurses, healthcare and all front-line workers who have toiled to make the vaccination drive a success. Let us keep boosting vaccination to defeat COVID-19,” PM Modi tweeted.

Bharatiya Janata Party (BJP) and several state governments have aimed to make Prime Minister Narendra Modi’s birthday historic by setting a record number of Covid vaccinations Friday.

Taking to Twitter, Union Health Minister Mansukh Mandaviya said that the historic feat is a gift to PM Modi on behalf of the health workers and the countrymen.

“#VaccineSeva A gift to Prime minister Narendra Modi on behalf of the health workers and the countrymen. Today, on his birthday, India has crossed the historical figure of administering 2 crore vaccines in a day, setting a new record. Well done India!” Mandaviya tweeted.

India has administered more than one crore COVID-19 vaccines in a day on earlier occasions.The vaccination drive in the country commenced on January 16 with the inoculation of healthcare and frontline workers. At present, India is administering COVID-19 vaccines– Covishield of Serum Institute of India (SII), Bharat Biotech”s Covaxin and Sputnik V.

To ramp up the drive, on April 1, the government had opened Covid-19 vaccination for everyone above the age of 45 years. A month later from May 1, as a part of the third phase of the vaccination drive, India began administering the vaccine in the 18 to 44 years age group.

Since then, the country’s vaccination drive is scaling new heights. On August 9, India’s COVID-19 vaccination coverage crossed the landmark of 50 crores.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)





Source link

Continue Reading

National

Maharashtra Logs 3,586 Covid Cases, 67 Deaths – dot newz

Published

on

By


Maharashtra’s COVID-19 recovery rate stands at 97.08 per cent.

Mumbaia:

Maharashtra on Friday reported 3,586 new coronavirus infections and 67 fatalities, taking the caseload to 65,15,111 and death count to 1,38,389, a health department official said.

As many as 4,410 patients were discharged from hospitals, taking the count of recoveries to 63,24,720.

There are 48,451 active cases in the state now.

As many as 2,81,072 people are in-home quarantine and 1,813 in institutional quarantine.

Maharashtra’s COVID-19 recovery rate stands at 97.08 per cent, while the fatality rate is 2.12 per cent.

The number of coronavirus tests conducted in the state thus far climbed to 5,67,09,128 after 1,79,246 samples were tested during the day.

Mumbai city reported 472 new cases and three deaths, taking its infection tally to 7,37,200 and death count to 16,042.

Coronavirus figures of Maharashtra are as follows: Total cases 65,15,111, New cases 3,586, death count 1,38,389, Recoveries 63,24,720, Active cases 48,451, Total tests 5,67,09,128.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



Source link

Continue Reading

Trending

Copyright © 2017 Dot Newz | Developed by MCVP Group 8