The Scottish Government has announced it will provide both financial aid and medical supplies to Ukraine following the illegal invasion by Russia.
As part of the global humanitarian efforts, an initial £4m will be provided to offer basic assistance for health, water and sanitation, and shelter. Officials are in discussions with humanitarian aid agencies to identify the best route to get this aid most quickly to those affected by the crisis, including to those displaced by the invasion.
But it’s not just governments at home and abroad that are offering financial and practical support, cryptocurrency companies are getting involved too.
Just a few days ago, major crypto exchange FTX said it gave out $25 US Dollars to every Ukrainian user.
“Do what you gotta do,” the FTX boss Sam Bankman-Fried said in a tweet where he announced the move.
On Saturday, February 26, major cryptocurrency exchange Crypto.com, announced that they have made a $1 million US Dollar donation to the Committee of the Red Cross.
In the message posted on Twitter, CEO Kris Marszalek wrote: “Our thoughts are with the people of Ukraine and innocent bystanders in the ongoing conflict,” further adding:
“We urge our community to do what they can to support humanitarian efforts.”
The CEO shared a link to the International Committee of the Red Cross website, where donations can be made.
The website states: “The Committee of the Red Cross together with its partners in the Red Cross and Red Crescent Movement - remains active in Ukraine, saving and protecting the lives of victims of armed conflict and violence.”
Meanwhile, Peter Smith, the CEO and co-founder of another popular crypto platform, Blockchain.com, said on the same day that all fees on the platform have been waived for trading and swapping crypto for Ukrainian users, effective immediately.
He tweeted: “For buying and selling in the Wallet there are no fees.
“For trading on the Exchange, there are no fees.
“For swaps made in your Trading Account there are no fees.
“For any swaps where the destination is your Private Key Wallet there are no fees.”
As previously reported by CryptoNews, cryptocurrency has been proving itself to be a useful method to raise money for organisations in Ukraine as banks implement new restrictive measures.
And though not every organisation or aid relief charity accepts donations in cryptocurrency, Cryptonews.com has compiled a list of those that currently do - find out more on the CryptoNews.com website here.
WARNING: Nothing in this article should be read or understood to be financial and/or investment advice. Readers should take their own financial advice from a suitably qualified independent financial adviser before making any investment decisions.
Get the latest money-saving and benefits news sent straight to your inbox. Sign up to our weekly Money newsletter here.
