Currency.com donates $1 million towards humanitarian effort in Ukraine

Currency.com has joined the global crypto community in donating towards the humanitarian effort in Ukraine.

The cryptocurrency exchange, one of the fastest-growing in the digital assets industry, has added its support with a $1 million donation.

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In a press statement published recently, the exchange said the funds would go to four charities. As noted by the exchange, the funds were disbursed immediately to the Red Cross Society for Ukraine, the Humanitarian Relief Fund (managed under Ukraine’s Ministry of Social Policy), Global Giving and ASAP Rescue.

The funds were distributed in three chunks, with $500,000 going towards emergency relief efforts jointly overseen by the Ministry of Health and the Red Cross Society. It is expected the charity efforts will utilise the half funds to provide medical aid and other basic needs to displaced Ukrainians.

Of the remaining amount, $200,000 was donated to ASAP Rescue to aid in evacuation efforts, and $300,000 to the Ministry of Social Policy and Global Giving. The two will help affected Ukrainians access basic needs, including food, shelter, and medical care.

Currency.com CEO (US) Steve Gregory noted in a statement that the firm wanted to help as much as it could. He added:

“Our hearts go out to the citizens of Ukraine who are engulfed by this war. Many have had to flee their homes amid freezing temperatures, power cuts and food shortages. Every day is a struggle to survive.”

Gregory noted that Currency.com was concerned about the turn of events in Ukraine. He pointed to the exchange’s global standing and the international team as factors that require them to act and help the Ukrainian people currently impacted by the ongoing war.

According to him, the company will closely monitor the situation in the country and would be ready to provide further support where needed.

The donation from Currency.com comes amid a global effort from across the crypto community, which has rallied behind Ukraine with donations to various charities. Millions of dollars have been channeled into organisations and volunteer groups helping both the citizens and the military.

According to data from blockchain security and analytics platform Elliptic, Ukraine’s government and the non-governmental organisation Come Back Alive have raised nearly $60 million from donors. This includes donations from over 120,000 crypto holders, exchanges and companies. 

Among the largest donors is Polkadot founder Gavin Wood who donated $5.8 million in DOT.