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Ukraine has received $37M in tracked crypto donations so far

by Cointelegraph By Zhiyuan Sun
February 28, 2022
in Cryptocurrency
Reading Time: 3 mins read
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Based mostly on information gathered by Cointelegraph, the quantity of tracked crypto donations despatched to the Ukrainian authorities, army and charities has surpassed $37 million on the time of publication. These embody Bitcoin (BTC), Ether (ETH), Tether (USDT) and different altcoins. The numbers are additionally primarily based on tracked tasks and don’t account for objects corresponding to donation efforts between people.

The largest recipient of crypto donations seems to be the “Reserve fund of Ukraine,” backed by the nation’s native cryptocurrency trade, Kuna. Based on its official Telegram channel, the trade has raised roughly $13 million in crypto for Ukraine, primarily by means of BTC, ETH and USDT.

Subsequent up, Come Again Alive, a non-government group that claims it’s serving to the Ukrainian Armed Forces’ resistance efforts, has acquired over $7.2 million in BTC donations at its pockets handle. This contains earlier, albeit minor, donations it had acquired in the course of the Warfare in Donbas, which started in 2014. Cointelegraph spoke to Ukrainian crypto lovers concerning the charity, who vouched for its legitimacy. 

Then there may be UkraineDAO, which is led by Pussy Riot’s (Russian feminist protest music group) Nadya Tolokonnikova and seeks to promote a single nonfungible token, or NFT, flag to fund Ukrainian civilian organizations. Presently, the best bid for the NFT stands at $2.89 million USD. 

Moreover, activists within the blockchain neighborhood have created Unchain Fund to assist Ukraine. The initiative helps a plethora of altcoins, together with NEAR, Binance Coin (BNB), Binance USD (BUSD) and extra. Since its launch, the fund has raised greater than $1.5 million in crypto, largely by means of NEAR token donations. Anna Tutova, a member of Unchain Fund and a distinguished socialite within the crypto neighborhood, advised Cointelegraph: 

“We elevate cash for medication, evacuation and restore wants, meals and garments. We elevate funds solely in crypto and use multi-sig wallets to be fully clear. Unchain fund is as effectively supported by Vitalik Buterin, Solana, Close to, Celo basis, Concord, Polygon, Gnosis, Gitcoin and plenty of extra.”

Different notable efforts embody Braiins, the world’s oldest mining pool, with its donation of 10 BTC plus a portion of its hash charge to assist Ukraine. Web3 humanitarian help initiative RELI3F additionally sent, up to now, 185 ETH to 3 crypto funds that help Ukraine. 

However crypto lovers are additionally asking the Ukrainian authorities to increase their acceptance of cryptocurrencies donations to different altcoins, not simply BTC, ETH and USDT. On Monday, Sunny Lu, co-founder and CEO of Vechain, tweeted:

Across the identical time, Gavin Wooden, co-founder of Ethereum and creator of Polkadot (DOT) and Kusama, wrote:

Regardless of crypto fundraising efforts for Ukraine gaining a big quantity of traction, customers took to social media to warn one another to be vigilant, at all times test the authenticity of the donation hyperlinks and be careful for scams. In a single instance, an alleged con artist has been commenting on all posts pretending to submit the official crypto handle for serving to the Ukrainian authorities.

Associated: Crypto exchanges take into account Ukraine’s name to freeze Russians’ Bitcoin