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News

Polkadot to help Ukraine with crypto funding

Tuesday 1 March 2022 14:27 CET | News

Ukraine expanded its cryptocurrency fundraising efforts by opening a Polkadot wallet.

The move comes after Polkadot founder Gavin Wood pledged to donate USD 5 million in DOT to the country. So far Ukraine has received over USD 186,000 in DOT, according to on-chain data.

An airdrop has not been confirmed yet, as Ukraine tweeted in response to Wood's request to open a Polkadot wallet to receive DOT donations. In crypto parlance, an 'airdrop' is the distribution of free tokens by a project's founder.

The country has received over USD 20 million in crypto donations so far, with Binance donating USD10 million and industry players Sam Bankman-Fried and Deepak Thapliyal also contributing large sums. According to digital asset research firm Elliptic, there have been more than 24,000 digital asset donations since the start of the Russian invasion. One Bitcoin whale donated USD 3 million alone.

More: Link


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Keywords: funding, crypto, digital wallet, trade finance
Categories: DeFi & Crypto & Web3
Companies: Polkadot
Countries: Ukraine
This article is part of category

DeFi & Crypto & Web3

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