TL: DR Breakdown
- Crypto donations in support of Ukraine has exceeded $63million
- Ripples donate $1 million in support of Ukraine
In a show of support for Ukraine in the midst of its invasion by Russia, the global crypto industry has donated more than $63 million worth of cryptocurrencies. The donations, made in bitcoin, Ethereum, and a number of other cryptos, have been given to help the Ukrainian government rebuild after the attack.
Data from blockchain ecosystem security firm SlowMist shows that the largest share of crypto donations has gone to the Ukrainian government, with a total of $38.50 million. These funds will be used to help finance the country’s reconstruction efforts and provide relief for those affected by the invasion.
Non -governmental organizations have taken the front line in crypto donations for Ukrain, including Come Back Alive Non-governmental organizations with over $14.9 million raised, the Ukraine Decentralized Autonomous Organization (DAO), at $ 6.4m. The countries Unchain Fund is at $2.1million while relief organization AidForUkraine funding is $1.4 million. The Crypto community has also shown its support for other causes, such as helping refugees fleeing from war-torn countries.
Well-wishers have also made an effort in reaching out with donations in form of Non-Fungible Tokens (NFTs). ETH summing to $6.4 million, was received by Ukrainian supporters in NFT. The DAO received close to $1.4 million worth of crypto from a social media platform known for its adult content.
Ripple donates $1 million to Ukraine
Ripple CEO and founder Brad Garlinghouse blasted Russia’s invasion of Ukraine, calling it unprovoked, unjustified, and wrong to maintain any global order after the event.
The company announced that it would be donating $XRP worth $1 million to help with the country’s reconstruction efforts. This brings the total amount of donations made by crypto firms to over $63 million.
The outpouring of support from the crypto community is a testament to its willingness to help those in need. As the industry continues to grow, it is hoped that these donations will serve as a model for how Crypto can be used to support humanitarian efforts around the world
Donations continue to come in, with the total amount raised expected to surpass $70 million by the end of the day.