OnlyFans Sends 500 ETH Worth Approximately $1.3M to UkraineDAO

UTC by Steve Muchoki · 3 min read
OnlyFans Sends 500 ETH Worth Approximately $1.3M to UkraineDAO
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The OnlyFans representative said the donation is part of the company’s larger charitable effort to support Ukraine in its war against Russia.

OnlyFans, a social platform where artists monetize content from fans, has donated 500 units of Ethereum valued at approximately $1.3 million to UkraineDAO to help the people of Ukraine. OnlyFans says it has personal ties with Ukraine and will support it in the fight against Russian troops. Moreover, Leonid Radvinsky is a majority owner in the company and is regarded as a Ukrainian-American businessman.

Notably, Radvinsky bought a 75% stake in OnlyFans’ parent company Fenix International Ltd back in 2018.

Speaking to media outlet CoinDesk, the OnlyFans representative said the donation to UkraineDAO is part of the company’s larger charitable effort to support Ukraine in its war against Russia.

According to the London-based social media platform, it has sent over $5 million to different humanitarian organizations in Ukraine. Additionally, the company has announced that another $1 million will be sent on March 15 to help in the same course.

“These tragic events have had a terrible impact on individuals including members of our creator community,” Ami Gan, CEO of OnlyFans, said in a statement. “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.”

Reportedly, UkraineDAO has received over $50 million since it began the charitable trust. The funds are, however, non-refundable but the donor gets to have some voting power.

Notably, UkraineDAO was formed by Russian art collective Pussy Riot and non-fungible token (NFT) studio Trippy Labs. Thereby indicating the level of support that Russian people are extending to their neighbors Ukraine, who are under unnecessary attack from the Kremlin.

OnlyFans Leads the Way to Help Ukraine in Its Fight

The attack in Ukraine, which has been described as uncalled for, is an attack on humanity. Military power should not guarantee one country invading its neighbors, especially in this century. However, coming together for the people of Ukraine and doing an act of compassion could save war victims in the country.

OnlyFans has shown that organizations at whatever capacity can chip in to help Ukrainians without governments intervention. Notably, key multinational tech companies including Visa, MasterCard, PayPal, and SWIFT have all switched off operations in Russia.

However, the use of cryptocurrencies has been reported to be on the rise in Russia. Furthermore, the industry has significant liquidity and is decentralized.

When history is written down, crypto assets and blockchain technology will be detailed on how they helped shape the war in Ukraine, especially during an ongoing global Covid pandemic.

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