Ukraine calls for donations in cryptocurrency in tether, ether or bitcoin
Ukraine is currently calling for crypto donations to shore up against Russian attacks. They chose Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).
Ukraine calls for crypto donations in tether, ether or bitcoin
The country’s official Twitter account announced on Saturday that it now accepts cryptocurrencies, writing in a tweet that they will be accepting donations in the form of Bitcoin, Ether and Tether.
“We stand by the Ukrainian people as we defend against Russian aggression”wrote the country on Twitter.
The country’s Deputy Prime Minister Mykhailo Fedorov confirmed that the appeal for donations was genuine and urged everyone to “stand by Ukraine”.
The request comes as bitcoin donations have started to flow in support of Ukraine after Russian President Vladimir Putin authorized a full-scale attack on the country on Thursday. Russian forces are advancing towards the Ukrainian capital, Kiev, and the city’s mayor, Vitali Klitschko, has imposed a strict curfew on the city.
According to blockchain analytics firm Elliptic, Come Back Alive — a Ukraine-based nonprofit dedicated to raising funds for medical and military kits — has raised $4 million worth of bitcoin since the invasion began earlier this week , according to blockchain analytics firm Elliptic.
How has the international crypto community reacted to pro-Ukrainian messages?
Vitalik Buterin, the founder of Ethereum, and several others were initially concerned that this tweet could come from scammers who had hacked into their accounts. They received confirmation from the Deputy Prime Minister of Ukraine, but still advise caution when sending crypto donations.
The Ethereum creator tweeted that the invasion was a “crime” against Ukrainians and Russians, adding: “Glory to Ukraine.” Buterin later retweeted an Unchain.fund announcement targeting humanitarian aid.
Chain.com CEO Deepak Thapliyal donated 100 ETH (about $278,000 USD) to the event.
Deepak Thapliyal said on BuzzFeed News:
“When I realized that the Ukrainian government had asked for a donation in the form of cryptocurrency, I felt compelled to do my part. Cryptocurrency donations are limitless and almost instantaneous, so I hope the government there can get involved as soon as possible to help those in need.”
A member of Russian performing arts group Pussy Riot founded UkraineDAO to “harness the power of Web3 technology and community to raise funds”.
There is also RELI3F, “a humanitarian aid initiative founded by NFT/web3 artists working together to support the Ukrainian people”.
On Twitter, the CEO of crypto exchange FTX announced that the company is giving $25 to every Ukrainian on FTX.
Yev Muchnik, a Ukrainian-born lawyer who has lived in the US since 1988, has been working with developers of PieFi for Ukraine United DAO. She speaks: “Everyone comes together to find out how they can help.”
Ukraine is a crypto haven. The country has accepted cryptocurrencies and passed laws to legalize them, making it one of the few countries where you can legally trade Bitcoin or other digital currencies without fear of taxes. .
Charities and NGOs have received Bitcoin donations aimed at fighting Ukrainian forces at home and abroad, with enemies everywhere.
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