Kraken, a renowned cryptocurrency exchange located in the United States, has offered an aid package worth more than $10 million (approximately Rs. 76 crore) for Ukrainian people. The exchange will give to Ukraine an amount equal to the total trading fees it received from Russian clients during the first half of 2022. To ensure that this assistance is immediately relevant to individuals, the exchange is donating $1,000 (approximately Rs. 76,300) in Bitcoin to Ukrainian consumers who registered an account on the crypto exchange before March 9. In addition, the exchange will offer $1,000 in Kraken Fee Credits to ensure that people in immediate need can convert at no cost.
The assistance package is effectively a Bitcoin airdrop organised by Kraken, and it is supported by its Ukrainian income as well as the previously mentioned transaction fees produced from Russia-based accounts. Kraken has decided to distribute the help in three lots, with users who currently satisfy the conditions automatically being included in the first lot. The amount to be awarded under the second drop has not yet been determined, however it will be based on fees collected during the first quarter of 2022.