Bored Ape Yacht Club Donates $1M In Ethereum To Ukraine

Cryptocurrency donations continue to pile up ever since Ukraine urged the community form help after it was invaded by Russia.

What Happened: Major non-fungible token (NFT) project Bored Ape Yacht Club pledged to donate $1 million in Ethereum ETH/USD towards the Ukrainian cause, as announced in a tweet on Wednesday. The project's official Twitter handle announced that wallets holding one of its NFTs donated to Ukraine almost $1 million in Ethereum, so the organization would like to match that with a donation of its own.

It's been inspiring seeing our community come together in support of Ukraine - almost $1m in ETH has been donated to @Ukraine by wallets containing a BAYC ecosystem NFT. Today we're matching that with a $1m ETH donation of our own.

— Bored Ape Yacht Club (@BoredApeYC) March 8, 2022

See Also: HOW TO BUY NON-FUNGIBLE TOKENS (NFTS) 

The transaction reported by the Bored Ape Yacht Club official Twitter account shows a donation of nearly 389 ETH, for a value exceeding $1.07 million. The announcement follows a report indicating that Ukraine received over $37 million in donations within the day after it first started to accept them.

A recent report also revealed that the donations are managed by Ukraine's Defense Ministry. At the time of the report, the country had not yet revealed what the funds were spent on “due to a level of secrecy involved.” 

Ukraine has been accepting donations in Bitcoin BTC/USD, Ethereum and Dogecoin DOGE/USD among other coins.