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March 1, 2022

Polkadot Founder Donates Nearly $6M in DOT To Ukraine

Source: Twitter

The crypto community’s call for Ukraine to accept other cryptocurrencies has been answered. The official Ukraine Twitter account announced that it will now accept Polkadot (DOT) donations, with other cryptocurrencies to follow.

Polkadot co-founder Gavin Wood previously stated that if Ukraine wallets added DOT, he would personally contribute $5 million. He followed through on his promise, donating 298,367.2269896686 DOT (approximately $5.7 million) to Ukrainian wallets.

According to estimates, total cryptocurrency donations to Ukrainian charities, the military, and the government have exceeded $37 million. Wood’s single donation accounts for more than 10% of all crypto donations.

Wood’s donation is, in fact, one of the largest individual crypto donations to date. FTX, Sam Bankman-exchange Fried’s platform, donated $25 to each Ukrainian on his platform, while Chain.com CEO Deepak Thapliyal donated 100 Ether (ETH), or over $280,000 USD.

According to Polkadot blockchain data, the Polkadot ecosystem has already contributed over $210,000 to the official DOT wallet for Ukraine since this morning.

Coingate, a Lithuanian-based fintech, provides a workaround for cryptocurrencies that are not accepted in Ukraine. Coingate, as a cryptocurrency payment gateway, enables holders of other cryptocurrencies to donate to Ukraine.

Coingate handles cryptocurrency payments for over 70 different cryptocurrencies, eventually crediting the Ukraine bank account with euros. Coingate stated that they have raised 7000 EUR from various crypto communities in the last five days.

Up to now, the crypto community has been quick to respond to Ukraine’s plight with donations and words of encouragement. Ukraine’s innovative crypto activity, according to Twitter users, was an attempt to make history.

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