Initiatives by the crypto-asset industry in support of Ukraine
Amid the political conflict with Russia, Ukraine has announced that it will accept donations in crypto-assets. This unprecedented use of crypto-assets for charitable purposes once again underscores the social role of this new asset class in our modern society.
In this article, Adan provides a non-exhaustive overview—without taking a political stance—of the main initiatives undertaken by the crypto-asset industry in support of Ukraine.
Direct donations to the Ukrainian government
On February 26, Ukraine set up a Bitcoin address and an Ethereum address to receive donations in cryptocurrency. In the days that followed, the government created additional addresses to raise as much funding as possible to address this political crisis: Polkadot, Dogecoin, Monero… Citizens can support the Ukrainian government in their own way across a wide range of blockchain networks.
Just one week later, Ukraine has already raisedmore than 50 million in crypto assets.
You can always make a donation using the addresses posted on the Ukrainian government’s official Twitter account.
https://twitter.com/Ukraine/status/1497594592438497282
Industry initiatives with potential participation or involvement
In addition to the initiative launched by the Ukrainian government, several organizations are accepting cryptocurrency donations to help address this crisis:
Save lives in Ukraine– The NGO Come Back Alive has set up a cryptocurrency donation page to support the Ukrainian military and is accepting donations in BTC, ETH, USDC, and USDT
If you would like to make a donation, here are their addresses:
- Bitcoin: bc1qqt5qphz68wy5a0v46tp5uc9ulkuqvw56n3enlp
- Ethereum: 0x32b8B6fc046314dfF1F3b1ee6dAF1e46b762094d
TheKyiv Independentalsoacceptsdonations in cryptocurrency
https://twitter.com/KyivIndependent/status/1498305722458771459?s=20&t=FRPt6LHfw1_yHLq9a3Fmzg
Beyond fungible crypto-assets, non-fungible tokens (NFTs) have been an effective way for the Ukrainian government and organizations to raise funds from the crypto community:UkraineDAOauctioned off an NFT of the Ukrainian flag for $6.5 million in Ether, making it one of the most expensive NFTs ever sold.
TheReli3fcommunity raised over $1 million in 30 seconds by selling its collection to support Ukraine.
https://twitter.com/nftsuniverse_/status/1498441039970979843
Bitpandahas launched an Emergency Response Fund for Ukrainian NGOs.
Binance has launchedBinance Charity, a crowdfunding campaign to support the people of Ukraine.
Source:Binance Charity Fund
Coinbase offerstechnologythat enables crypto companies to ensure compliance with international sanctions imposed on Russia. More recently, Chainalysis releasednew free sanctions screening toolsfor crypto-asset industry participants.
Philanthropy
Several figures from the crypto world have also made personal donations:
Polkadot founderGavin Wooddonated the equivalent of $5.8 million in DOT;
https://twitter.com/FedorovMykhailo/status/1498704946702827527?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1498704946702827527%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.lacryptomonnaie.net%2Fanglais%2Fle-fondateur-de-polkadot-gavin-wood-envoie-un-don-massif-de-crypto-pour-aider-lukraine%2F
Deepak Thapliyal, CEO of Chain Protocol, donated 100 ether to Ukraine;
https://twitter.com/dt_chain/status/1497637246505263108?cxt=HHwWiIC5hYLJ1sgpAAAA
Cryptopunk– On March 1, an anonymous donordonated Cryptopunk #5364 to Ukraine. This NFT is valued at 56 ETH, or approximately $150,000.
https://twitter.com/abornyakov/status/1500208402663981057
In addition to individuals, companies in the industry have shown great solidarity with Ukraine:
In an announcement by its CEO, Champeng Zao,Binancedonated $10 million to Ukrainian NGOs.
https://twitter.com/cz_binance/status/1497939020248145930?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1497939020248145930%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcryptoast.fr%2Fukraine-binance-don-10-millions-dollars-aide-humanitaire%2F
In addition to its Emergency Response Fund,Bitpandahas also donated 100,000 euros to the accounts designated by the Ukrainian government.
Coinhousedonated 1 bitcoin to the Ukrainian government.
TheFTXexchange is offering $25 to each of its Ukrainian customers;
https://twitter.com/SBF_FTX/status/1496980981617946624?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1496980981617946624%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcrypto-community-reacts-to-russia-s-war-in-ukraine
TheNear, Solana, and Harmonyfoundations have formed a consortium andraised $2.4 millionfor humanitarian efforts in Ukraine.
