Polkadot, Vechain Founders Pledge Over $10 Million In Crypto To Ukraine

Ukraine is receiving more support as it uses crypto donations to finance its military. The country has received support from some of the most prominent players in crypto, such as Binance (an exchange) and other donors who donated nearly $20 million. The project is now in the spotlight of prominent founders from the crypto industry, who have pledged substantial sums to Ukraine.

Crypto founders pledge big

Gavin Wood is the founder and CEO of popular cryptocurrency Polkadot. He has spoken out in support of Ukraine. Last week, the country posted several crypto wallet addresses as it attempted to raise funds for its nation that had been invaded by Russia. Although Ukraine is a small country with limited resources, the international community has rallied behind it.

Read Related Reading| A Crypto War Is Raging – Crypto Donations Fuel Russia-Ukraine War

Wood joined the comments section to express his support. Ukraine was informed by the founder that $5 million would be donated if an address on DOT is provided.

Wood isn’t the only crypto-founder to have made an important pledge for the country. Sunny Lu (Founder and CEO at Vechain) has made the same pledge. Lu took to the comments section and made an even greater pledge. Lu pledged $8 million for the cause if a VET wallet is added to the official address list.

Similar Reading|

These founders pledged to donate but this is contingent on Ukraine acquiring crypto wallets for these two projects. The country of Ukraine currently has three addresses that can accept crypto donations. The addresses below are for donations of Bitcoin, Ethereum and USDT (ERC-20, TRON).

Ukraine’s Donations Are On the Rise

Nearly $20 million has been donated so far to Ukraine. Binance has been sending in donations from all corners of the globe. Only two days have passed and the campaign has almost reached double-digit millionaires.

Crypto total market cap chart from TradingView.com

Cryptomarket down to $1.6 Trillion market cap| Source: Crypto Total Market Cap on TradingView.com

The donations by Lu and Wood could quickly push Ukraine’s donation amount to $30 million if it releases its VET and DOT wallet addresses. Since the campaign began, more than 270 Bitcoins have been donated to Ukraine. This is the largest portion of all the donations.

Similar Reading: New Crypto Security Solutions Protects Bitcoin and Other Digital Assets from Theft| New Crypto Security Solution Protects Bitcoin, Other Digital Assets From Theft

According to recent news reports, Ukraine is willing to meet with Russia for peace negotiations. The country declined to hold the Belarus talks.

Featured image by Chemonics International chart on TradingView.com

Get more Crypto News at CFX Magazine