Monday, May 27, 2024

Ukraine has received nearly $10 million in cryptocurrency donations.

The Ukraine government requested donations and other assistance to deal with the Russian invasion. These funds will be used to provide aid to all those who are affected. The crypto community has rallied to show their support for this small country. This proves yet again that crypto is the choice of most people to do fundraising and donate. This call for support was made by the Vice PM Mykhailo Fedorow, who also holds the Digital Transformation portfolio.

The cryptocurrency community enthusiastically raised $19 million in BTC and ETH in just a week. Of According to Reuters reports, the total in donations stood at $8 million on Sunday, Feb. 27th. The amount of donations doubled to stand at $18.9 million and this information was gathered by analytics firm, Elliptic. Breaking it down by crypto asset categories, the information states that most of it is in BTC and ETH. Stablecoins also form a significant part of the donation.

The breakdown is as follows – 31.8% in ETH, 56.4% in BTC and 10.9% in stablecoins. The founder of the Chinese crypto outlet Wu Blockchain said that he would also donate if an address was provided. Binance, the world’s largest exchange also heeded the call for help with a $10 million donation. IT also set up a crypto portal for donations called the Emergency Relief Fund for Ukraine. Donations are pouring from many crypto investors and companies. It pledged 16,000 tokens of its own to Ukraine and expects a lot more to come in.

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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