Ukraine Receives Crypto Donations as much as $22 million in total

Ukraine Receives Crypto Donations as much as $22 million in total
Ukraine Receives Crypto Donations as much as $22 million in total

As Russia’s aggression increased over the weekends, Ukrainian officials made another unusual request via Twitter: bring us some cryptocurrencies.

In a twitter thread through official accounts, online wallet credentials representing Bitcoin, Ether, and Tether, three among the most famous cryptocurrencies, became disclosed.

Thus according Elliptic, a blockchain monitoring organization, crypto investors reportedly contributed well over $22 million worth digital content towards the Ukrainian government as well as a foundation assisting the country’s armed forces ever since.

Over Than $22 Million Has Now Been Given By Cryptocurrency Investors

The instability in Ukraine has increasingly focused on the emerging cryptocurrency ecosystem, with politicians including regulators anxious that perhaps the digital tokens could be used to dodge sanctions via Russian enterprises or even government officials.

Nonetheless, as much more conventional crowdfunding approaches encounter difficulties, Bitcoin offers a mechanism for investors throughout the country to immediately transfer contributions into the Ukrainian military.

Come Back Alive, a Kyiv-based NGO that already has gathered donations helping train and equip Ukrainian armed soldiers, seems to have its Patreon profile removed last week. Patreon alleged the page violates company guidelines forbidding armed services sponsorship.

Come Back Alive, on the other hand, currently has a new source of funding: UkraineDAO, a crypto collaborative created last week by crypto fanatics who recently cooperated also with Russian protest group Pussy Riot.

As shown in a spokesperson, UkraineDAO said it had already collected over $4 million in cryptocurrencies supporting Come Back Alive.

In an appearance, Come Back Alive member Nadya Tolokonnikova indicated that perhaps the band having resolved would spend their earnings towards helping victims of war but instead of equipping combatants.

Come Back Alive would neither respond to requests for comment for comment right away.

Thus according to Elliptic, the Ukrainian organization has accumulated over $7 million throughout cryptocurrency since around Monday evening. Thus according to Elliptic, the Ukrainian government is getting $15.4 million through bitcoin offerings.

The offerings are trivial in the context of the battle. Last year, Ukraine’s defense budget was roughly $4 billion; Russia’s military budget is more than ten times that amount.

Also Visit: KPMG Canada follows Bitcoin buy with purchase of World of Women NFT


Please enter your comment!
Please enter your name here