Ethereum (CRYPTO:ETH) founder Vitalik Buterin has donated 400 ETH, valued at over $1 million, to four humanitarian non-profits in Ukraine.
The donation, made on Tuesday, was carried out by swapping Ethereum from meme coins, highlighting the increasing use of digital assets in philanthropy.
One of the primary recipients of Buterin’s donation is the UHF Fund, a non-governmental organization that offers grants to initiatives focused on aiding both civilians and military personnel in Ukraine.
This move comes as digital currencies continue to demonstrate their potential for facilitating charitable contributions amid ongoing geopolitical crises.
Buterin’s contribution emphasizes the growing role of cryptocurrencies in humanitarian efforts, especially during times of crisis.
By leveraging digital assets, donors can efficiently and transparently direct funds to initiatives aimed at alleviating challenges faced by those affected.
According to sources, Buterin’s choice to use cryptocurrencies for the donation underscores the technology’s capability to offer rapid and secure financial aid to non-profits operating in high-risk regions.
The donation was carried out in ETH, showcasing the flexibility of digital assets in supporting causes beyond traditional financial systems.
As the ongoing conflict in Ukraine continues, contributions like Buterin’s play a crucial role in helping local organizations address immediate and long-term needs.
At the time of reporting, the Ethereum price was $2,674.65.