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More than $10 million was donated to crypto wallets by the Ukrainian government within 24 hours of the government asking for donations in bitcoin, Ethereum, and Tether.
Crypto Community Responds To the Ukrainian Government's Request for Cryptocurrency Contributions
Saturday morning, the Ukrainian government started asking for cryptocurrency donations. The official Twitter account of Ukraine tweeted "Stand with Ukraine's people." Accepting cryptocurrency donations. "Bitcoin, ethereum and USDT" The tweet also contains a Bitcoin address as well as an address for Ethereum and UST donations. also tweeted Mykhailo Fedorov (Vice Prime Minister of Ukraine).
After the Ukrainian government solicited crypto donations, Elliptic, a blockchain data analytics company, stated Sunday:
Since the beginning of the invasion, the Ukrainian government and the NGOs supporting the military have raised $17.2million through thousands of cryptocurrency donations.
"Twitter accounts belonging the Ukrainian government have asked for cryptocurrency donations. Elliptic stated that the addresses mentioned in the tweets had already received $10.6million across 13,670 transactions. "This includes a single donation of $1.86 million that appears to have been made from NFTs [non-fungible tokens] originally meant to raise funds to support Julian Assange."
The blockchain analytics company continued:
The majority of donations have been received in Bitcoin and Ethereum, but US dollars stablecoins make up a substantial portion.
Elliptic also pointed out that crypto supporters don't just donate cryptocurrencies to Ukraine. "People also send NFTs to Ukraine's Ethereum account." The firm stated that one such NFT can have a value of around $300."
Olexander Scherba was the Ukraine's Ambassador to Austria from 2014-2021. He commented on the Ukrainian government asking for crypto donations. He tweeted:
For those who wish to support bitcoin. In Ukraine, bitcoin is legal.
One non-governmental organization (NGO), in addition to donations to the Ukrainian government has received substantial cryptocurrency donations. Bitcoin.com News reported that "Come Back Alive", had raised more than $5 million in Bitcoin. The organization received 170.05722596 Bitcoin, which is approximately $6.6 million, at the current bitcoin price.
