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The American bitcoin exchange Kraken will distribute more than $10 million among Ukrainian users as an aid against the backdrop of the Russian invasion.
Kraken will distribute over $10 million worth of to aid clients in 🇺🇦Ukraine. Tranche 1 recipients will be credited $1000 of #BTC, withdrawable tomorrow. The package is funded by historical Ukraine revenues and H1 2022 revenues from Russia-based trading.https://t.co/DdkY2TsVoB
— Kraken Exchange (@krakenfx) March 9, 2022
The action will take place in several stages. The first airdrop will take place on March 10th. Clients from Ukraine will be entitled to receive $1,000 in bitcoin and a similar amount in the form of commission discounts.
Requirements for participation in the first tranche include:
- an account created before March 9, 2022;
- verification level Intermediate or Pro;
- the presence at any time of a non-zero balance in the account.
Funds can be withdrawn “immediately,” the exchange team said.
During the second phase, Kraken will distribute between Ukrainian users the amount of commissions paid by clients from the Russian Federation for the first quarter of 2022. The airdrop will take place on April 1st. Those who did not receive funds from the first tranche will be able to participate.
At the third stage, the exchange will share the commissions of Russian users for the second quarter.
Qualification requirements for participants are similar to the first stage of the airdrop, but there is no need for the movement of funds.
Kraken noted that the declared amount of the share approximately corresponds to the volume of commissions received by the exchange from Ukrainian clients since 2013.
“We look forward to being able to continue providing critical financial services to both our clients in Ukraine and Russia. Cryptocurrencies remain an important humanitarian tool, especially at a time when many in the world can no longer rely on traditional banks and custodians,” said Kraken CEO Jess Powell.
Recall that former US presidential candidate Hillary Clinton criticized cryptocurrency exchanges for continuing to serve the Russians.
#Kraken #Airdrop #10M #Users #Ukraine
