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

The Ukraine raised over $17 million through cryptocurrency donations after Russia’s invasion. More than $10 million was donated to crypto wallets by the Ukrainian government within 24 hours of the request for donations in bitcoin and ether.

Crypto Community Responds to Ukrainian Government’s Plea for Cryptocurrency Donations

Ukrainian officials began asking for donations of cryptocurrency Saturday morning. Ukraine’s official Twitter account tweeted: “Stand with the people of Ukraine. We now accept cryptocurrency donations. Bitcoin, ethereum, and USDT.” The tweet also includes a BTC address and an address for ETH and USDT donations. Mykhailo Federorov, Vice Prime Minister of Ukraine also tweeted. tweetedSimilar message.

Following the Ukrainian government’s solicitation of crypto donations, blockchain data analytics firm Elliptic said Sunday:

Since the invasion, $17.2 million has been raised by the Ukrainian government and the NGOs supporting the military through thousands of donations of cryptocurrency.

“Twitter accounts belonging to the Ukrainian government have posted pleas for cryptocurrency donations. The addresses mentioned in the tweets have already received $10.6 million across 13,670 transactions,” Elliptic detailed. “This includes a single donation worth $1.86 million, which appears to have originated from the sale of NFTs [non-fungible tokens] originally intended to raise funds for Julian Assange.”

Blockchain analytics company continued to operate:

Most donations have been made in bitcoin or ether so far, but there has been a substantial amount of US dollar stabilitycoins.

Elliptic also pointed out that not only are crypto-supporters donating cryptocurrency to the Ukrainian government, but they’re doing so in a variety of ways. “People are also sending NFTs to the Ukrainian government’s Ethereum account. One such NFT has a value of approximately $300,” the firm wrote.

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

All those willing to support bitcoin. In Ukraine, bitcoin is legal.

A substantial number of crypto donations were received by a non-governmental organisation (NGO), in addition to donations made to Ukraine’s government. Bitcoin.com News reported Friday that “Come Back Alive” had raised more than $5 million in bitcoin. As of the writing date, 170.05722596 BTC had been received by the organisation, which is worth approximately $6.6 million at current bitcoin prices.

How do you feel about the Ukrainian government asking crypto donations? Comment below to let us know your thoughts.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.