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

More support is pouring out for Ukraine as the country takes to crypto donations to fund its military. It has garnered support from top players in the crypto space like exchange giant Binance and others who have donated almost $20 million to the country. Now, it is attracting the attention of top founders in the space who have pledged significant sums to Ukraine.

Crypto Founders Pledge Big

Gavin Wood, the founder of leading cryptocurrency Polkadot has come out to express support for Ukraine. The country had posted multiple crypto wallet addresses last week as it solicited funds for the nation which had been invaded by world superpower Russia. Being a smaller country, there is not much in the way of funds to fight Russia but the world has rallied around Ukraine.

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Wood took to the comment section to show his support for the cause. The founder told Ukraine that he would personally donate $5 million if a DOT address was put up.

If you post a DOT address I'll personally contribute $5m.

— Gavin Wood (@gavofyork) February 27, 2022

Wood is not the only crypto founder that has made a significant pledge to the country. Sunny Lu, Founder, and CEO of Vechain has also made a pledge. Also taking to the comment section, Lu made an even higher pledge. He announced that he would donate $8 million to the cause when a VET wallet address is added to the list of official wallet addresses.

Setup a VET wallet and leave VET address, I’ll donate $8m. Nothing else matters comparing people’s life.

— Sunny LU, VeChain Ⓥ (@sunshinelu24) February 28, 2022

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Both these founders have pledged to give but it is predicated on the fact that the country acquires crypto wallets for both of these projects. Currently, the country of Ukraine has three official addresses where funds can be donated in crypto. These two addresses are to receive donations in Bitcoin, Ethereum, and USDT (ERC-20 and TRON).

Ukraine Donations On The Rise

So far, there have been almost $20 million donated to Ukraine. The donations have been from both individual supporters and from Binance which have been pouring in from around the world. The campaign is only two days old and is almost in the double-digit millions.

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

If Ukraine releases DOT and VET wallet addresses, then the donations from Lu and Wood would push the amount donated above $30 million very quickly. There have been more than 270 bitcoins donated to Ukraine since the campaign started, which makes up the majority of the donations so far.

Related Reading | New Crypto Security Solution Protects Bitcoin, Other Digital Assets From Theft

Recent news reports have said that Ukraine has agreed to sit down for peace talks in Russia. However, the country has declined to have the talks in Belarus.

Featured image from Chemonics International, chart from TradingView.com

About Sean Patterson

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