May 18, 2022

Ukraine Has Received $108 Million In Crypto Donations Following Kraken And BAYC Donations

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On Wednesday, tracked total crypto donations to the government of Ukraine wallet addresses, charities, and humanitarian efforts had topped $108 million. The main Bitcoin (BTC) and Ethereum (ETH) wallet addresses of the Ukrainian federal government, along with a BTC donations address for Come Back Alive, are the leading three beneficiaries of such cash.

Tracked Donations To Ukraine Cross $100 Million

On the same day, Kraken said that it will donate over $10 million to relief efforts to clients who opened an account in Ukraine prior to March 9th. Kraken clients in the nation will get $1,000 in BTC no matter their account level during the very first tranche of fund release, which may be withdrawn immediately. For withdrawals of approximately $1,000, the exchange also got rid of currency exchange expenses. Kraken’s CEO, Jesse Powell, mentioned:

“Cryptocurrency remains an important humanitarian tool, specifically at a time when numerous around the globe can no longer rely on standard banks and custodians.”

Also, according to Alex Bornyakov, minister of Ukraine’s Ministry of Digital Transformation, Ukraine has actually gotten”near$100 million” in crypto donations. Related short article |. Almost $70 Million In Crypto Donated To Ukraine So Far As War Rages On Bornyakov included that more than$ 60 million of the$100

million was received in the main fund administered by Kuna, the Ukrainian crypto exchange, in an emergency online briefing entitled “Digital Resistance: How Ukraine Is Leveraging Technology to Fight for Freedom.” BTC/USD trades at$41k. Source: Tradingview The remaining monies, according to Bornyakov, have been dispersed to a number of lesser funds.

Bornyakov restated his demand that crypto firms suspend services to Russian users in an interview on CoinDesk TV’s “First Mover” on Tuesday, as part of an unprecedented project to shut Russia off from the international monetary system.

On Wednesday, the Bored Ape Yacht Club, or BAYC, signed up with the crypto fundraising efforts for Ukraine. The developers behind BAYC revealed that after collecting approximately $1 million in ETH from wallets bring a BAYC nonfungible coin, they would match the contribution with a $1 million ETH donation of their own.