Since Russia’s Invasion, Ukraine has raised more than $17 million in cryptocurrency donations. About 24 hours after the Ukrainian government solicited donations in bitcoin, ether, and tether, more than $10 million was donated directly to the crypto wallets posted by the government.
The Crypto Community Reacts to Ukraine’s Request for Cryptocurrency Donations
On Saturday morning, the Ukrainian government began accepting cryptocurrency donations. “Stand with the people of Ukraine,” said Ukraine’s official Twitter account. Donations in cryptocurrency are now accepted. “Bitcoin, ethereum, and USDT are the three major cryptocurrencies.” A BTC address, as well as addresses for ETH and USDT donations, are included in the tweet. Ukraine’s vice prime minister, Mykhailo Fedorov, also tweeted a similar message.
Elliptic, a blockchain data analytics firm, issued the following statement on Sunday in response to the Ukrainian government’s request for cryptocurrency donations:
Since the invasion began, the Ukrainian government and NGOs assisting the military have raised $17.2 million through thousands of cryptocurrency donations.
“The Ukrainian government’s Twitter accounts have made pleas for cryptocurrency donations. Elliptic reported that the addresses mentioned in the tweets had already received $10.6 million in 13,670 transactions. “This includes a single $1.86 million donation that appears to have come from the sale of non-fungible tokens [non-fungible tokens] that were originally intended to raise funds for Julian Assange.”
The blockchain analytics company went on to say:
The majority of donations so far have been made in bitcoin and ether, with US dollar stablecoins accounting for a significant portion of the total.
Elliptic went on to say that cryptocurrency supporters aren’t just giving money to the Ukrainian government. “People are also sending NFTs to the Ethereum account of the Ukrainian government.” The value of one of these NFTs is around $300, according to the firm.
Ukraine’s ambassador to Austria from 2014 to 2021, Olexander Scherba, commented on the Ukrainian government’s request for cryptocurrency donations. He wrote on Twitter:
To those who want to contribute to the Bitcoin community. In Ukraine, Bitcoin is now considered legal tender.
Aside from donations to the Ukrainian government, cryptocurrency donations have been made to one non-governmental organization (NGO). According to Bitcoin.com News, “Come Back Alive” has raised more than $5 million in bitcoin. The organization has received 170.05722596 BTC at the time of writing, which is worth about $6.6 million at the current bitcoin price.
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