Monday, May 27, 2024

Crypto Companies Come Forward to Help People of Ukraine

As Russia moves ahead relentlessly with its plan to take over Ukraine, many organizations have stepped up their efforts to help people in Ukraine. Some crypto companies have also come up with plans to help them.

FTX, a prominent crypto exchange said a few days back that it plans to give $25 to every Ukrainian user. The amount is being given without any condition according to Sam Bankman-Fried, the head of FTX. He announced this move in a tweet. More such announcements are expected in the coming days.

Crypto.com, another prominent crypto exchange announced on February 26 that it has donated 1 million to Red Cross. Kris Marszalek, its CEO announced in a tweet that he stands with Ukrainian people when they need help during this ongoing conflict. He also urged the community members to come forward and support humanitarian initiatives for Ukrainians.

He shared a link of international Red Cross where anyone can donate money. The organization accepts payments in different currencies through credit cards and even PayPal. Monthly and single donations are also accepted.

According to the ICRC, its partners Red Cross as well as Red Crescent Movement are actively helping in Ukraine. They are trying their best to protect and help the victims of this armed conflict, according to the website.

Blockchain.com, another major crypto platform came up with its own plan. Its cofounder and CEO Peter Smith said that the platform fees for swapping and trading have been waived for Ukrainian users with immediate effect.

As many reports are emerging, crypto is proving useful in raising funds for organizations that are working in Ukraine to help people during this conflict. As banks start implementing certain restrictions for that region, it is the crypto solutions that are becoming an option to raise donations.

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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