As the Russian invasion of Ukraine approaches its seventh week, Bitcoin has shown to be a useful tool in assisting victims of war and the military in their fight. The Ethereum co-founder Vitalik Buterin has made the greatest donation to the cause, donating a total of $5 million in ETH.
Buterin gave 750 Ethereum (ETH) to Unchain Fund, a charity project founded by blockchain advocates to provide humanitarian assistance to Ukraine, according to a tweet from the fund on April 6.
On April 6, he also gave the same amount to Aid For Ukraine, a fund established by the Ukrainian Ministry of Digital Transformation, as confirmed by the organization’s Twitter feed.
Buterin is said to have made no mention of his donations and that they were only discovered thanks to his registered Ethereum Name Service (ENS) domain name, ‘vitalik.eth,’ from which he transmitted the funds.
Notably, since the start of the “special military operation” on February 24, Ukraine has received cryptocurrency support from all over the world, with the most recent amount exceeding $100 million on March 28, according to media reports. Contributions were given to the Ukrainian government as well as Ukrainian non-governmental organizations such as Come Back Alive, UkraineDAO, Unchain Fund, Aid For Ukraine, and Cryberpolice Ukraine.
The recipients of the funds have put them to a variety of uses, including military support and humanitarian efforts. As a result, crypto donations have proved their capacity to enable rapid cross-border money transfers without the use of traditional banking institutions as a middleman.
Image Credit: Shutterstock
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
