October 3, 2022

Polkadot’s Founder Donates Ukraine $5.7 Million; Total Crypto Donations Surpass $22 Million

2 min read

Polkadot Price Analysis

The Ukrainian government has actually continued to receive crypto donations. Gavin Wood, the creator of Polkadot(DOT), has actually simply sent out $5.7 million to the country’s wallet, fulfilling a promise he made earlier.

Ukraine prepares to add more blockchains for donors

Wood, who is likewise a co-founder of Ethereum, shared the Polkadot explorer link to the transaction by means of Twitter.

Wood formerly assured to make a $5 million donation to Ukraine if they offered a DOT wallet to join their BTC,

Other donors have likewise broken into the DOT wallet following Wood. The wallet presently holds DOT tokens worth around $5.8 million from over 200 transactions. Other popular donors in the crypto space consist of TRON’s Justin Sun, in addition to crypto exchange Binance which raised $10 million to support Ukrainians.

Ukraine’s Bitcoin wallet has actually up until now gotten over 187 BTC. Over $7.47 million has actually been donated in ETH and ERC-20 USDT too. The nation’s government has actually exposed that it will release wallet addresses for more cryptocurrencies quickly.

Other initiatives to support Ukrainians including Come Back Alive, a Kyiv-based NGO, have actually likewise been accepting crypto contributions.

Russia is set to get crypto sanctions

On the other side of the conflict, the world has actually turned on Russia with rigorous sanctions. So far sanctions have actually been enforced by world governments on Russia’s central bank and domestic banks. A lot of stunning is Switzerland, which has a policy of neutrality, relocates to join other countries in enforcing the sanctions.

To entirely lock out Russia from world trade, the European Central Bank (ECB) and the US are likewise moving to prohibit Russia from having the ability to use crypto. President of the ECB, Christine Lagarde, has actually called for the regulators to speed up crypto oversight in the region.

Similarly, the Wall Street Journal (WSJ) reports that crypto could be the target for more sanctions for Russia.

The post Polkadot’s Founder Donates Ukraine $5.7 Million; Total Crypto Donations Surpass $22 Million appeared initially on CoinGape.