Crypto Donations Pour in After Ukraine Govt Asks for Bitcoin and Ether — $17 Million Raised so Far

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Crypto Donations Pour in After Ukraine Government Asks for Bitcoin and Ether — $17 Million Raised so Far

Ukraine has raised bigger than $17 million in cryptocurrency donations since Russia began its invasion. Over $10 million possess been donated straight to the crypto wallets posted by the Ukrainian govt about 24 hours after the govt.solicited donations in bitcoin, ether, and tether.

Crypto Crew Responds to Ukrainian Govt’s Plea for Cryptocurrency Donations

The Ukrainian govt began soliciting cryptocurrency donations Saturday morning. The apt Twitter story for Ukraine tweeted: “Stand with the opposite folks of Ukraine. Now accepting cryptocurrency donations. Bitcoin, ethereum, and USDT.” The tweet moreover entails a BTC address and an address for ETH and USDT donations. Mykhailo Fedorov, vice high minister of Ukraine, moreover tweeted a identical message.

Following the Ukrainian govt’s solicitation of crypto donations, blockchain recordsdata analytics company Elliptic said Sunday:

The Ukrainian govt and NGOs providing lend a hand to the navy possess raised $17.2 million thru hundreds of cryptocurrency donations for the rationale that start of the invasion.

“Twitter accounts belonging to the Ukrainian govt possess posted pleas for cryptocurrency donations. The addresses talked about within the tweets possess already obtained $10.6 million across 13,670 transactions,” Elliptic detailed. “This entails a single donation rate $1.86 million, which appears to be like to possess originated from the sale of NFTs [non-fungible tokens] before all the pieces intended to resolve funds for Julian Assange.”

The blockchain analytics company persevered:

Practically all of donations obtained to this level possess been in bitcoin and ether, though US buck stablecoins make a contribution a extensive percentage.

A chart displaying which cryptocurrencies possess been donated to the Ukrainian govt and nonprofit organizations supporting the Ukrainian navy. Source: Elliptic

Elliptic extra pointed out that crypto supporters are no longer proper donating cryptocurrencies to the Ukrainian govt. “Of us are moreover sending NFTs to the Ukrainian govt’s Ethereum story. One such NFT has a fee of roughly $300,” the company wrote.

Olexander Scherba, Ukraine’s ambassador to Austria between 2014 and 2021, commented on the Ukrainian govt soliciting crypto donations. He tweeted:

To other folks who would love to relief in bitcoin. Bitcoin is officially legit in Ukraine.

Apart from donations to the Ukrainian govt, one non-governmental organization (NGO) has obtained a enormous amount of cryptocurrency donations. News reported Friday that “Attain Assist Alive” had raised bigger than $5 million in bitcoin. On the time of writing, the organization has obtained 170.05722596 BTC, rate about $6.6 million at the hot bitcoin mark.

What function you assume regarding the Ukrainian govt inquiring for crypto donations? Let us know within the feedback allotment below.

Kevin Helms

A student of Austrian Economics, Kevin realized Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin security, start-supply systems, community outcomes and the intersection between economics and cryptography.

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