Kevin Helms
A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.
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Ukraine has raised greater than $17 million in cryptocurrency donations since Russia started its invasion. Over $10 million have been donated on to the crypto wallets posted by the Ukrainian authorities about 24 hours after the federal government solicited donations in bitcoin, ether, and tether.
Crypto Neighborhood Responds to Ukrainian Authorities’s Plea for Cryptocurrency Donations
The Ukrainian authorities started soliciting cryptocurrency donations Saturday morning. The official Twitter account for Ukraine tweeted: “Stand with the folks of Ukraine. Now accepting cryptocurrency donations. Bitcoin, ethereum, and USDT.” The tweet additionally features a BTC deal with and an deal with for ETH and USDT donations. Mykhailo Fedorov, vice prime minister of Ukraine, additionally tweeted the same message.
Following the Ukrainian authorities’s solicitation of crypto donations, blockchain knowledge analytics agency Elliptic mentioned Sunday:
The Ukrainian authorities and NGOs offering help to the navy have raised $17.2 million via hundreds of cryptocurrency donations for the reason that begin of the invasion.
“Twitter accounts belonging to the Ukrainian authorities have posted pleas for cryptocurrency donations. The addresses talked about within the tweets have already obtained $10.6 million throughout 13,670 transactions,” Elliptic detailed. “This features a single donation value $1.86 million, which seems to have originated from the sale of NFTs [non-fungible tokens] initially supposed to lift funds for Julian Assange.”
The blockchain analytics agency continued:
Nearly all of donations obtained thus far have been in bitcoin and ether, though US greenback stablecoins contribute a major proportion.
Elliptic additional identified that crypto supporters will not be simply donating cryptocurrencies to the Ukrainian authorities. “Individuals are additionally sending NFTs to the Ukrainian authorities’s Ethereum account. One such NFT has a worth of roughly $300,” the agency wrote.
Olexander Scherba, Ukraine’s ambassador to Austria between 2014 and 2021, commented on the Ukrainian authorities soliciting crypto donations. He tweeted:
To those that wish to assist in bitcoin. Bitcoin is formally legit in Ukraine.
Moreover donations to the Ukrainian authorities, one non-governmental group (NGO) has obtained a considerable quantity of cryptocurrency donations. Bitcoin.com Information reported Friday that “Come Again Alive” had raised greater than $5 million in bitcoin. On the time of writing, the group has obtained 170.05722596 BTC, value about $6.6 million on the present bitcoin worth.
What do you consider the Ukrainian authorities asking for crypto donations? Tell us within the feedback part beneath.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
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