As more well-wishers express support during the ongoing Russian invasion, Ukraine continues to see a substantial stream of cryptocurrency donations, with the amount reaching $30 million (now $27.2 million).
According to Elliptic, a blockchain analytics business, the Ukrainian government and NGOs have raised $17.2 million in cryptocurrency donations.
Binance, a cryptocurrency exchange, is also spearheading a $10 million emergency fund to aid Ukrainians affected by the conflict, bringing the total confirmed donations to $27.2 million.
Binance CEO Changpeng Zhao announced that the company will donate $10 million to humanitarian causes.
The funds will be used to support military and humanitarian efforts by a variety of groups, including non-governmental organizations and government agencies.
It's worth mentioning that the donations are still going on, with a possible value of more than $27.2 million in bitcoin.
In other news, Ethereum co-founder Vitalik Buterin is one of the people lobbying for crypto donations to help a number of humanitarian causes.
The majority of donations are made in Bitcoin, Ethereum, and stablecoins backed by the US dollar. Furthermore, non-fungible tokens (NFTs) have been used to make gifts to the government.
The ability of crypto to permit rapid, cross-border payments transfers without the involvement of financial institutions has been proved through its application in donations.