Kraken has always been a huge Cryptocurrency. However, according to the latest news, Kraken plans to give the Ukrainian military a huge amount of $10 million for help. The Amount covered in the fund is the fees paid by the residents in the decade.
The Amount will include those withheld from Russian traders
The Kraken exchange will give $1,000 to the eligible customers for the scheme. They will be sharing the Amount in the form of Bitcoins. The Russian invasion had a huge impact on Ukraine, and Kraken is trying to help people out with this fund. The company has mentioned that the customers will be judged based on their partnership and activities.
According to the data, the clients who created an account between March 10 and July 1 will be eligible to get the plan’s maximum benefit. According to their usage, they will be placed in the ‘pro’ or ‘intermediate’ level. This will help them to get bitcoin.
Ukrainian users will get the money instantly
All the Ukrainian users who have an account with the Kraken exchange will get the bitcoin and will be able to transact it to get the money instantly. This is done in order to give instant help to the war victims out there in the country. The first of three planned tranches will be equal to the fees that the residents of Ukraine have already paid. All the deposits done from the year 2013 will be given back with the fund.
After the invasion, the government out there in Kyiv urged different cryptocurrency exchange companies to freeze the accounts of Russian users instantly. But even after the request, most of the big cryptocurrency exchanges such as Kraken and Binance didn’t agree to impose such restrictions on the Russian users. Now with the impact of wars on the users in Ukraine, Kraken has finally decided to help people out.