Background: Ukraine government asks for bitcoin amid war and receives $19 million

Charlie Taylor

Ukraine Army. Photo: Reuters (NOTE: Image is from December 2021)As Ukraine comes under attack from the Russian army, the country’s government used Twitter to ask for global donations in bitcoin (BTC), ether (ETH) and tether dollar (USDT).

The cry for help was not in vain. According to Elliptic, a blockchain data analysis company, the Ukrainian government and NGOs that provide aid to the army have raised about $19 million in cryptocurrencies. said Elliptic. “They allow quick, international donations, which bypass financial institutions that may be blocking payments to these groups.” Ironically, Washington is also considering sanctions involving cryptocurrencies for fear they could be used to circumvent sanctions imposed by Western nations against Russia, including the West’s decision on Saturday to expel major Russian banks from the SWIFT interbank network.Mykhailo Fedorov, Deputy Prime Minister and Minister for Digital Transformation, tweeted a request late Sunday asking major cryptocurrency exchanges to block addresses belonging to Russian users. “It is crucial to freeze not only addresses linked to Russian and Belarusian politicians, but also sabotage ordinary users,” Fedorov said. Kraken CEO responded to the minister on this point, see his response in the article “Russian Banks Blocked from Swift and Bitcoin (BTC) Dawns in Fall“. On February 24, Russian President Vladimir Putin ordered troops in the east. Ukraine as part of a “military operation” that followed weeks of siege by Russian military along Ukrainian borders. cryptocurrency exchange seeking to shoulder some of the economic costs of Ukraine’s armed conflict. On Saturday, Twitter accounts owned by the Ukrainian government appealed to the national community for financial assistance in cryptocurrency donations. “Stay with the people of Ukraine,” the tweet reads. official. “Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.” Donations to the two addresses provided in the tweet have so far received $12.1 million across 15,947 transactions. This number includes a single donation worth $1.86 million from NFT sales originally intended to raise funds for the Australian activist. Julian Assange, according to Eliptic. Another $4.94 million in donations include those made to Ukrainian NGO Come Back Alive, as well as non-fungible token donations such as Goat Soup #1189, valued at approximately $293, he said. the company. Patreon suspended the Come Back Alive crowdfunding page on Thursday, claiming the NGO violated its policies by collecting funds for military activities. has not expressly declared the receiving organization.See too:Buy and Sell Bitcoin and Other Cryptocurrencies on Coinext
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