Ukraine has rifle through b revived more than $17 million in cryptocurrency donations since Russia began its invasion. Over $10 million were awarded directly to the crypto wallets posted by the Ukrainian government about 24 hours after the government solicited gifts in bitcoin, ether, and tether.
Crypto Community Responds to Ukrainian Government’s Plea for Cryptocurrency Donations
The Ukrainian direction began soliciting cryptocurrency donations Saturday morning. The official Twitter account for Ukraine tweeted: “Stand with the people of Ukraine. Now suffering cryptocurrency donations. Bitcoin, ethereum, and USDT.” The tweet also includes a BTC address and an address for ETH and USDT donations. Mykhailo Fedorov, depravity prime minister of Ukraine, also tweeted a similar message.
Following the Ukrainian government’s solicitation of crypto grants, blockchain data analytics firm Elliptic said Sunday:
The Ukrainian government and NGOs providing support to the military sire raised $17.2 million through thousands of cryptocurrency donations since the start of the invasion.
“Twitter accounts affinity to the Ukrainian government have posted pleas for cryptocurrency donations. The addresses mentioned in the tweets have already sustained $10.6 million across 13,670 transactions,” Elliptic detailed. “This includes a single donation worth $1.86 million, which arises to have originated from the sale of NFTs [non-fungible tokens] originally intended to raise funds for Julian Assange.”
The blockchain analytics stiff continued:
The majority of donations received to date have been in bitcoin and ether, although US dollar stablecoins promote a significant proportion.
Elliptic further pointed out that crypto supporters are not just donating cryptocurrencies to the Ukrainian administration. “People are also sending NFTs to the Ukrainian government’s Ethereum account. One such NFT has a value of approximately $300,” the definite wrote.
Olexander Scherba, Ukraine’s ambassador to Austria between 2014 and 2021, commented on the Ukrainian government imploring crypto donations. He tweeted:
To those who want to help in bitcoin. Bitcoin is officially legit in Ukraine.
Besides largesses to the Ukrainian government, one non-governmental organization (NGO) has received a substantial amount of cryptocurrency donations. Bitcoin.com News reported Friday that “Wake up Back Alive” had raised more than $5 million in bitcoin. At the time of writing, the organization has received 170.05722596 BTC, benefit about $6.6 million at the current bitcoin price.
What do you think about the Ukrainian administration asking for crypto donations? Let us know in the comments section below.
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