Sunday, June 23, 2024

As Kraken and Bored Ape join in, tracked crypto donations to Ukraine have risen to $108 million.

It has been just two weeks since the war between Russia and Ukraine started and the Ukrainian President’s call for donations. Donations in crypto have been pouring in at a phenomenal rate and the current amount stands at $108 million.

According to Cointelegraph, this amount is in several wallet addresses belonging to the Ukrainian government. The top cryptos in which the donations are made are BTC and ETH wallets. The third which is a BTC address as well is CBA ComeBackAlive. Donations are being sent by individuals and companies. Two NFT companies Bored Ape and Kraken have also pitched in to help with the donation efforts.

Kraken said that it would disburse funds of more than $10 million to people who created accounts from within Ukraine. The accounts had to be created before the 9th of March. Ukrainians with crypto address would receive $1000 in funds (BTC) as part of the first round of disbursement. This amount could be taken out the account right away. Kraken also said that it is waiving exchange fees for withdrawing money amounting to $1000. Kraken’s CEO said that the company will keep disbursing funds through the year so that the KYC process can be completed.

BAYC, a known NFT company also pitched in with the fundraising efforts. Bored Ape managed to collect ETH of $1 million from user wallets containing BAYC tokens. The company plans to match user contributions with donation of the same amount in ETH.

Other contributions include donations in cryptos such as Tether, USD Coin, Polkadot and others to the tune of $14 million. Binance set up a Relief Fund for Ukraine and has over $11 million BTC, Binance USD and BNB in funds. Donations are pouring in to help Ukrainian citizens during this difficult time.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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