Wednesday, October 5, 2022

Crypto Donations to Ukraine Has Topped $37 Million

The war between Russia and Ukraine has long escalated and Ukraine has been receiving donations in the form of crypto from organizations and individuals. Based on news collected, Ukraine has received donations to the tune of $37 million from various entities and Non-Governmental Organizations (NGOs).

Crypto donations to Ukraine have not only been given in Bitcoin (BTC) but also in Ethereum (ETH) and a few other digital currencies. The figure calculated so far is according to donations that were traced and it in no way includes personal assistance to individuals.

So far, the largest donation has gone to the Ukraine Reserve Fund with unreserved support from the nation’s local digital currency trading platform Kuna. Kuna has been providing utmost backing for Ukrainians, especially technical support. Its recorded crypto donations so far top $13 million.

A statement was issued by a representative of Kuna concerning the safety and disbursement of the funds donated. According to the Kuna representative, the crypto funds are disbursed based on the requested needs of the government of Ukraine.

Closely following Kuna is the non-governmental organisation (NGO) Return Alive foundation with a received crypto donation worth about $7.2 million. The NGO has been known to provide support for Ukraine since 2014, reaching out to soldiers on war fronts, and training grounds.

The Return Alive Foundation also offers media services to the general public on the happenings on the battlefield. The aim is to avoid distortion of information and misinformation of citizens. The donations to this NGO have been issued primarily in Bitcoin.

Russian art protest group Pussy Riots has organized a faction that has raised almost $3 million in crypto (Ethereum precisely) through the auction of a Non-Fungible Token (NFT). There has been a bid of $2.89 million on the created digital collectible.

Binance Funds Ukaraine Relief

The largest crypto exchange Binance has also donated a total of $10 million and has established a crowdfunding website (Ukraine Emergency Relief Fund) to ask for assistance from the public to support Ukrainians. Binance Charity Foundation is responsible for the relief initiative from the trading platform.

The funds are being shared with the recognized NGOs and government agencies associated with providing relief. Binance is expressly committed to the funding rounds for Ukraine donations and is currently forming collaborations with health and relief stakeholders to back the war-torn country.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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