BlocksInform
On Wednesday, total crypto donations across Ukrainian government wallet addresses, charities and relief efforts tracked by Cointelegraph reached $108 million. The top three recipients of such funds included the official Bitcoin (BTC) and Ethereum(ETH) wallet addresses of the Ukrainian government, and a BTC donations address for Come Back Alive.
The same day, Kraken announced that it would distribute over $10 million to clients who created an account from Ukraine before Mar 9 for relief efforts. Regardless of their account balance, Kraken's Ukrainian clients would each receive $1,000 in the first cash disbursement, which can be withdrawn immediately. Exchange has also waived foreign exchange charges for withdrawals up to $1,000. Jesse Powell, Kraken's CEO, gave the following remarks regarding the aid package:
"Cryptocurrency remains an important humanitarian tool, especially at a time when many around the world can no longer rely on traditional banks and custodians."
The funds will be distributed throughout the year, partly to give Ukrainian residents time to complete the 'intermediate' KYC verification process. Perhaps ironically, the charges levied on kraken accounts based in Russia will partially finance the aid package.
Kraken will distribute more than $10 million in support of its customers in Ukraine. Tranche 1 recipients will be credited $1000 of #BTC, withdrawable tomorrow. The ensemble is financed by the historic revenues of Ukraine and the h1 2022 revenues of the trade based in Russia.https://t.co/DdkY2TsVoB
— Kraken Exchange (@krakenfx) March 9, 2022
Bored Ape Yacht Club, or BAYC, too, joined into crypto fundraising efforts for Ukraine on Wednesday. After collecting close to $1 million in wallets containing a non fungible bayc token, the promoters behind bayc said they would match the contribution with a million dollar donation.
It's been inspiring seeing our community come together in support of Ukraine - almost $1m in ETH has been donated to @Ukraine by wallets containing a BAYC ecosystem NFT. Today we are giving a million dollars. ¦?
— Bored Ape Yacht Club (@BoredApeYC) March 8, 2022
Other notable contributions include the BINANCE Ukraine Emergency Relief Fund, which has received over $11.3 million in BTC, ETH Binance Coin (BNB) and Binance USD from the beginning. In addition, during its last update on Mar 3., it appears Kuna's Crypto Fund of Ukraine has received over $14 million in major altcoins such as Polkadot (DOT), Tether (USDT), Candle, USDC, and DAI.
