Subscription-based social media platform OnlyFans has donated nearly $1.3 million in Ethereum (CRYPTO: ETH) to UkraineDAO, a decentralized autonomous organization helping Ukraine in the current conflict against Russia.
What Happened: OnlyFans, led by the Ukrainian-American Leonid Radvinsky, said it donated 500 ETH equivalent taking its various Ukraine-related humanitarian donations to over $5 million, according to a CoinDesk report.
OnlyFans plans to send an additional $1 million on March 15, as per the report.
“Given our strong personal ties to Ukraine, we wanted to support in a way which felt true to who we are at OnlyFans and which focused on getting aid and support to the Ukrainian people,” said the company in a statement, seen by CoinDesk.
Why It Matters: UkraineDAO was formed by Trippy Labs, a non fungible token or NFT studio, and Pussy Riot, a Russian feminist punk rock band, whose members are one of President Vladimir Putin’s most outspoken critics.
When OnlyFans made its donation, the DAO was stuck at only half the 1,000 ETH reserve amount. The 500 ETH donation pushed the amount over the top and more donations began to pile in afterward, a representative told CoinDesk.
Recently, an OnlyFans creator from Ukraine, Lilu Miller, reached out to her followers and asked them to support her, the Ukrainian people, and the country’s army, according to a Newsweek report.
Until last week more than $52 million in Bitcoin (CRYPTO: BTC), Ethereum, and Dogecoin (CRYPTO: DOGE) along with other cryptocurrencies had been raised by the Ukrainian government and nonprofit organizations in donations.
Price Action: At press time, ETH traded 0.3% lower over 24 hours at $2,587.31.
Photo courtesy: OnlyFans
