Ukraine raises $35 million in crypto donations as war with Russia rages

Ukraine raises $35 million in crypto donations as war with Russia rages

The government of Ukraine has raised $35 million through crypto-asset donations since the war with Russia began, according to Elliptic, a blockchain analytics company.

Ukraine is expanding the types of cryptocurrencies it will accept for donations as the war with Russia continues with increasing intensity. 

Also through war bonds, Ukraine has been able to raise some money, about 8.14 billion Ukrainian hryvnias ($270 million).

 

Ukraine is now accepting dogecoin and other cryptocurrencies as donations to support its effort to contain the Russian invasion..

This was revealed on Wednesday by Mykhailo Fedorov, the Vice Prime Minister, who tweeted that people can send dogecoins as a donation. 

“Now memes can support our army and save lives from Russian invaders.”

In his Twitter post on Tuesday, Fedorov mentioned a project he was involved with called Aid for Ukraine.

Earlier as at February 26, bitcoin, ether, and tether were the first cryptocurrencies accepted for donations by Ukraine.

Also the cryptocurrency exchange Uniswap has developed a feature that lets donors send ether to the Ukrainian government by converting any digital currency based on Ethereum, a platform on which apps can be built.

The vice prime minister Fedorov revealed that Gavin Wood, the founder of the Polkadot blockchain platform, donated $5 million worth of the DOT cryptocurrency to Ukraine.

 

Author: Greg