Kraken to distribute $10 Million in Bitcoin to Ukraine-based clients

Crypto exchange Kraken is planning to distribute $10 million worth of Bitcoin to its Ukraine-based clients. Kraken said on Wednesday that customers who created accounts from Ukraine before March 9 are eligible to receive up to $ 1,000 each in Bitcoin. Users can withdraw these funds from the exchange immediately and are exempt from currency conversion fees.

Kraken will also donate to the relief package an amount equivalent to all transaction fees paid by Russian-based customers in the first half of 2022.

The CEO of Kraken, Jesse Powell has also said,” We hope to continue being able to provide critical financial services in a time of need to both our clients in Ukraine and in Russia.” He further said that cryptocurrency remains an important humanitarian tool, especially at a time when many around the world can no longer rely on traditional banks and customs.

Powell said if the Kraken unfairly attacked violence around the world and voluntarily frozen the financial accounts of residents of provoking countries, then step 1 would be to freeze all accounts in the USA.