Ukraine Receives Over $225 Million in Crypto Donations in Fight Against Russia
A report by Crystal Blockchain reveals that Ukraine has received more than $225 million worth of crypto donations from supporters as the country continues its battle against Russia. These donations have come from prominent companies and figures in the crypto industry.
Key Points:
- Binance, the world’s largest crypto exchange, contributed $10 million worth of crypto to support agencies like UNICEF, UNHCR, and UN Refugee Agency.
- Polkadot’s co-founder Gavin Wood and Tron’s founder Justice Sun donated $5 million worth of DOT and $200,000 worth of USDT, respectively.
- Ethereum’s co-founder Vitalik Buterin, despite being born in Russia, donated close to $5 million worth of ETH and criticized Putin’s actions as a “crime against the Ukrainian and Russian people.”
- The majority of these donations were received in 2022, with March being the most successful period, bringing in close to $100 million.
- USDT, ETH, and BTC were the most donated cryptocurrencies, with USDT accounting for $83 million, ETH for $79 million, and BTC for $41 million.
Russia also received crypto donations, but Ukraine’s donations significantly surpassed those of Russia. The Russian military reportedly received only $2 million worth of crypto, according to the Crystal report.
Hot Take:
The substantial crypto donations received by Ukraine demonstrate the support and solidarity of the crypto community during times of crisis. It highlights the power of blockchain technology and its ability to provide direct assistance to those in need. Furthermore, the stark difference in donations between Ukraine and Russia reflects the global condemnation of Russia’s actions and the ongoing conflict. This report sheds light on the significant role that crypto donations can play in humanitarian efforts.