Tracked crypto donations to Ukraine surge to $108M as Kraken, Bored Ape joins in
On Wednesday, total crypto donations across Ukrainian government wallet addresses, charities, and relief efforts tracked by Cointelegraph has 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 held, Ukrainian clients of Kraken would receive $1,000 in BTC each during the first trach of fund disbursement, which can be withdrawn immediately. The exchange also waived currency exchange fees for withdrawals of up to $1,000. Jesse Powell, Kraken's CEO, gave the following remarks regarding the aid package:
Funds will be distributed throughout the year, in part to give Ukrainian residents time to complete Kraken's 'intermediate' know-your-customer verification process. Perhaps ironically, fees collected from Russia-based Kraken accounts will partly fund the aid package.
Kraken will distribute over $10 million worth of to aid clients in Ukraine. Tranche 1 recipients will be credited $1000 of #BTC, withdrawable tomorrow. The package is funded by historical Ukraine revenues and H1 2022 revenues from Russia-based trading.https://t.co/DdkY2TsVoB
Bored Ape Yacht Club, or BAYC, too, joined in on crypto fundraising efforts for Ukraine on Wednesday. After collecting nearly $1 million in ETH from wallets containing a BAYC nonfungible token, the developers behind BAYC said it would match the contribution with a $1 million ETH donation of their own.
It's been inspiring seeing our community come together
Read more on cointelegraph.com
