Feb 27, 2022 | PEOPLE

Ukraine govt raises crypto donations worth $8M

The office of Ukrainian president agrees to talk peacefully with Russia at the Belarusian-Ukrainian border,

Photo by Kanchanara on Unsplash

Ukraine has raised about $8 million in digital currencies after posting appeals on Twitter for donations, blockchain analysis firm Elliptic reveals.

On Saturday, Ukraine’s official Twitter account requested donations in the form of bitcoin, ether, or tether. It posted crypto wallet addresses for the mentioned digital currencies.

Ukraine’s Vice-PM appeals

“Stand with the people of Ukraine. Now accepting cryptocurrency donations,” Vice-Prime Minister of Ukraine Mykhailo Fedorov tweeted.

In fact, Fedorov is also appointed as the country’s minister of digital transformation. He posted the digital wallet addresses; yet, Reuter reported that he did not immediately respond to comments.

Soliciting donations via social media happened when Russian military vehicles began to invade Kharkiv, the second-largest city in Ukraine.

Then, several explosions swung the price of oil and gas installations on the fourth day of the geopolitical conflict. Russia’s invasion is currently considered the massive assault on a country situated in the European continent since WWII.

Crypto donations to humanitarian groups

The surge of bitcoin donations provides medical supplies and kits to Ukrainian defendants, according to a report.

Elliptic has recently revealed that Ukrainian humanitarian groups and non-governmental organizations received donations of around $4.1 million in bitcoin.

In this situation, Republic Crypto Chief Andrew Durgee expects to see more “cross-border value transfers.” Bitcoin IRA COO Chris Kline, meanwhile, believes Russia’s attacks in Ukraine are a good time for testing the efficacy of digital currency amid the humanitarian crisis.

At this moment, the office of Ukrainian president agrees to talk peacefully with Russia at the Belarusian-Ukrainian border without preconditions.

Check out the list of digital currencies here on Bit-Xchange. Begin your cryptocurrency journey today. Stay up-to-date and sign-up here.