Justin Sun Calls Crypto Donations for Ukraine “A Monumental Moment in History”

Key Insights:

• Justin Sun, Founder of Tron, called blockchain donations 100% transparent.
• He said that donating through intermediaries results in corporate profit for banks.
• Sun stated that the efforts for Ukraine are a transformational moment for humanitarian aid.

In an exclusive interview shared with FXEmpire, Tron’s founder Justin Sun shared his views on Ukraine’s donations in cryptocurrencies.

Sun, a permanent representative of Grenada to the World Trade Organization, believes that crypto donations are much more efficient than donating through an intermediary.

History in Making

Russia’s invasion created many historic moments for the 21st century, and one of those moments is crypto-related. Never before had anyone witnessed humanitarian aid of this form.

According to Data analytics site Dune, donations in cryptocurrencies were approximated to be over $38 million at the time of writing.

Regardless crypto has played an essential role in assisting Ukraine against Russia.

Since crypto adoption rose significantly in the last two years, the donations received by Ukraine have paved a mainstream future for crypto.

Sharing his thoughts on this prospect, Justin Sun said,

“This is a monumental moment in the history of humanitarian donation on a global scale—the most innovative way to date of implementing humanitarian contributions worldwide. When we make crypto donations via the blockchain, we have 100% confidence that our money is going directly into the hands of the Ukrainian government. We used to donate through organizations like the Red Cross. Still, these organizations have to deal with so many intermediaries, we never knew how much of our donation made it to the cause.”

Adding to the same, Justin added that receivers lose a part of it when the money goes through an intermediary.

Even right now, the Ukraine military’s donation page clarifies that 2.45% of every transaction is paid as commission to the service provider.

This is avoidable when donating through crypto. Sun explained in terms of USDT – the Tron-based stablecoin issued by Tether.

He said that by paying a nominal fee of $0.1 on Tron via USDT, one could ensure that the receiver gets 100% of the amount donated instantly.

“Transparency”

Sun also stated that he believes crypto’s transparency is unmatched compared to intermediaries. Blockchain transactions are immutable and unconcealed, which makes them ideal for humanitarian causes.

Calling crypto the greatest equalizer at humanity’s disposal, he said that anyone in the world could make a transparent donation via crypto.

He further mentioned that he would raise the discussion of the global support efforts for Ukraine with crypto at the next WTO session. In line with the same, he iterated,

“I want to make sure that we can raise the awareness of people using blockchain and crypto for good. The Ukraine effort represents a transformational moment for humanitarian aid, showing how the world can quickly, efficiently, and cheaply generate funding directly where it’s needed.”