Polkadot founder Gavin Wood donates $5.8 million to Ukraine

Polkadot founder Gavin Wood has followed through on his promise to donate $5 million to Ukraine to support its efforts in its war with Russia.

On February 27, Wood tweeted that if Ukraine were to post a Polkadot address, he would donate $5 million. The official Ukraine Twitter account did so earlier today, following on from a previous tweet asking for crypto donations.

In response, Wood tweeted a transaction showing a donation of 298,367 DOT to the address. At the current price of $19.33 per DOT, his donation is worth $5.8 million.

So far the Polkadot address has received a total of $6 million in donations, including Wood's transaction.

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Tim is a News Editor at The Block who focuses on DeFi, NFTs and DAOs. Prior to joining The Block, Tim was a News Editor at Decrypt. He has earned a BA in Philosophy from the University of York and studied News Journalism at the Press Association. Follow him on Twitter @Timccopeland.