The Ukrainian government has continued to receive crypto donations. Gavin Wood, the founder of Polkadot (DOT), has just sent $5.7 million to the country’s wallet, fulfilling a promise he’s made before.
Ukraine plans to add more blockchains for donors
Wood, who is also a co-founder of Ethereum, shared the Polkadot explorer link to the transaction via Twitter.
— Gavin Wood (@gavofyork) March 1, 2022
Wood previously promised to make a $5 million donation to Ukraine if they provide a DOT wallet to join their BTC, ETH and USDT wallet addresses.
If you post a DOT address, I will personally contribute $5 million.
— Gavin Wood (@gavofyork) February 27, 2022
Other donors have also chipped into the DOT wallet after Wood. The wallet currently holds DOT tokens worth approximately $5.8 million from over 200 transactions. Other well-known donors in the crypto space include Justin Sun of TRON, as well as crypto exchange Binance, which raised $10 million to support Ukrainians.
Ukraine’s Bitcoin wallet has received more than 187 BTC so far. More than $7.47 million has also been donated in ETH and ERC-20 USDT. The country’s government has revealed that it will soon be releasing wallet addresses for more cryptocurrencies.
Other initiatives to support Ukrainians, including Come Back Alive, a Kiev-based NGO, have also accepted crypto donations.
Russia will receive crypto sanctions
On the other side of the conflict, the world has turned against Russia with harsh sanctions. So far, sanctions have been imposed on the Russian central bank and domestic banks by world governments. Most shockingly, Switzerland, which has a policy of neutrality, is joining other countries in imposing the sanctions.
To keep Russia completely out of global trade, the European Central Bank (ECB) and the US also plan to ban Russia from using crypto. ECB President Christine Lagarde has called on regulators to accelerate cryptocurrency oversight in the region.
Likewise, the Wall Street Journal (WSJ) reports that crypto could be the target of further sanctions on Russia.
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About the author
Olivia’s interests span the entire cryptocurrency and NFT and DeFi industry. She remains as fascinated with cryptocurrencies today as she was in 2017 when she first started reading about them. She is actively looking for the latest Crypto related stories. When she’s not writing, she tends to her pet Chihuahua or prepares vegan recipes. Reach me at [email protected]
This post Polkadot founder donates $5.7 million to Ukraine; Total crypto donations exceed $22 million
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