Ukraine will now accept donations from Polkadot (DOT), founder Gavin Wood donates a whooping $5.8 million

As the war in Ukraine continued and flared up with terrible consequences, people and organizations worldwide decided to donate to Ukraine’s war effort and the military forces defending the country against Russia. Many people want to donate in crypto, and finally, the official Ukrainian Twitter account posted yesterday both Bitcoin (BTC) and Ethereum (ETH) addresses to which donors can send crypto.

After that, in response to the Ukrainian tweet, Gavin Wood, co-founder of Ethereum and founder of Polkadot, tweeted that he would send $5 million if Ukraine posted a DOT address. And then,…

Ukraine post DOT address, hence Polkadot’s Gavin Wood donates $5.8 million

Wood’s reply raised some criticism since it could be interpreted as Wood conditioned his donation and would not donate if he couldn’t send DOT. However, some also pointed out that Wood’s response could come out of tax concerns, as converting from DOT to ETH could be a taxable event.

In response, Wood tweeted a transaction showing a donation of 298,367 DOT to the address. At the current price, his donation is worth $5.8 million. So far, the Polkadot address has received a total of $6 million in donations and counting., including Wood’s transaction.

Total crypto donations to Ukrainian charities, military, and government organizations have received more than $37 million. Wood’s donation alone accounted for more than 10% of all crypto donations.

Not only Wood but Sam Bankman-Fried’s platform, FTX, gave away $25 to every Ukrainian on its exchange, while CEO Deepak Thapliyal gave away 100 Ether (ETH), equivalent to more than $280,000.

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