Ukraine has received $108 million in cryptocurrency donations
Image Source: Bitcoinist

Ukraine has received $108 million in cryptocurrency donations

Total crypto donations to the government of Ukraine wallet addresses, NGOs, and humanitarian initiatives had surpassed $108 million as of Wednesday. The top three recipients of such funds include the Ukrainian government’s official Bitcoin (BTC) and Ethereum (ETH) wallet addresses, as well as a BTC donations address for Come Back Alive.

Ukraine has received $108 million in cryptocurrency donations
Image Source: Bitcoinist

Following Kraken and BAYC donations, Ukraine has received $108 million in cryptocurrency donations

On the same day, Kraken announced that consumers who created an account in Ukraine before March 9th will receive a donation of over $10 million to fund humanitarian operations. During the initial tranche of fund release, Kraken clients in the country will receive $1,000 in BTC, regardless of their account balance, which may be withdrawn instantly. The exchange also waived currency exchange fees for withdrawals of up to $1,000. Jesse Powell, the CEO of Kraken, stated: “Cryptocurrency remains an important humanitarian tool, especially at a time when many around the world can no longer rely on traditional banks and custodians.”

In an emergency online briefing titled “Digital Resistance: How Ukraine is Leveraging Technology to Fight for Freedom,” Bornyakov added that more than $60 million of the $100 million was received in the principal fund administered by Kuna, the Ukrainian crypto exchange.

Bornyakov claims that the remaining assets have been allocated to a number of smaller funds.

In an appearance on CoinDesk TV’s “First Mover” on Tuesday, Bornyakov reiterated his plea that crypto businesses cease services to Russian users, as part of an unprecedented drive to cut Russia off from the global financial system.

The Bored Ape Yacht Club, or BAYC, joined the cryptocurrency fundraising efforts for Ukraine on Wednesday. After collecting about $1 million in ETH from wallets containing a BAYC nonfungible coin, the designers of BAYC stated that they would match the donation with a $1 million ETH donation of their own.

Another notable gift is Binance’s Emergency Relief Fund, which has received over $11.3 million in BTC, BNB, and Binance USD since its inception. Since its previous update on March 3, it appears that Kuna’s Crypto Fund of Ukraine has received around $14 million in key cryptocurrencies such as Polkadot (DOT), Tether (USDT), Candle (CNDL), USD Coin (USDC), and Dai.

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