Cryptocurrency betting platform Stake.com has donated the equivalent of $1m in bitcoin (BTC) to the humanitarian effort in Ukraine.
The donation amounted to 25.63 BTC at the time of the transaction on Thursday. It is the latest in a series of similar moves by other companies from the gambling industry that have rallied to support the country.
Parimatch pledged $1m earlier this month in a bid to alleviate the suffering of the Ukrainian people.
Commenting on the donation, Stake.com co-founder Ed Craven said: “Everyone at Stake stands in solidarity with the people of Ukraine. Our hearts go out to all those innocently involved in this tragic conflict. We hope this contribution will go far to aid and support the brave and resilient Ukrainian people.”
This is not the sole initiative by the industry. A GoFundMe page called Gaming Industry for Ukraine managed to raise a total of $333,000 in a week and send it to the Choose Love initiative. The campaign has already been backed by several notable companies, including Betsson Group, Better Collective, Microgaming and FSB Technology.
Many individuals from the gambling industry have chosen to donate anonymously and independent of any industry campaigns.
Since the beginning of the Russian invasion of Ukraine, many companies have chosen to exit the Russian market.
Stake.com has made no official statement about where it stands on the Russian market just yet, but others have been leaving, among them Bet365, Parimatch, Genius Sports and Clarion Gaming which said it would no longer work with representatives from Belarus or Russia.
If you want to help with the efforts by the gambling industry to aide Ukraine, please seek out a fitting charity that accepts crypto.
You can support the humanitarian effort in Ukraine by donating crypto to Save The Children or via the UkraineDAO project.