Since Russia’s invasion, Ukraine has received over $17 million in cryptocurrency donations. The Ukrainian government transferred almost $10 million to cryptocurrency wallets in less than 24 hours after accepting Bitcoin, Ether, and Tether donations.
On a weekday morning, the Ukrainian government began accepting cryptocurrency donations. “Stand with the people of Ukraine,” said Ukraine’s official Twitter account. Donations in cryptocurrencies are presently 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 the same message.
Donations Poured in for the Ukrainian Crisis
Elliptic, a blockchain information analytics startup, stated 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 had raised $17.2 million through thousands of cryptocurrency donations.
“The Ukrainian government’s Twitter accounts have made calls for cryptocurrency donations. Elliptic cautioned, “The addresses specified in the tweets have already collected $10.6 million in 13,670 transactions.” “This includes a $1.86 million donation that appears to have come from the sale of NFTs [non-fungible tokens] originally intended to raise revenue for general Assange.”
Donations on Ether and Bitcoin
Most donations so far have been in Bitcoin and Ether, with US dollar stablecoins accounting for a substantial amount. Elliptic also learned that cryptocurrency enthusiasts aren’t just handing over their coins to the Ukrainian government. “People are causing NFTs to be transmitted to the Ukrainian government’s Ethereum account.” “One such NFT costs roughly $300,” according to the firm.
In addition to donations to the Ukrainian government, one non-governmental organisation (NGO) has received a significant amount of cryptocurrency. The weekday report from Bitcoin.com News stated that “Come Back Alive” has raised over $5 million in Bitcoin. At the time of writing, the charity had received 170.05722596 BTC, which is worth around $6.6 million according to today’s Bitcoin pricing.