Previous   Next
HomeBusinessUkraine Raises Over $15 Million In Crypto Post Russian Invasion

Ukraine Raises Over $15 Million In Crypto Post Russian Invasion

Ukraine has raised over $15 million in cryptocurrencies since the Russian invasion began last week.

The global crypto community has also extended its support to Ukraine. Vitalik Buterin, the creator of Ethereum, tweeted that the invasion was a “crime” against Ukrainian and Russian people, adding “Glory to Ukraine.”

More than $15 million in cryptocurrency has been donated to Ukrainian groups since Russia attacked the country on February 24, according to research firm Elliptic.

“Decentralised autonomous organisations (DAOs) have formed to support Ukrainians. NFTs have been sold to raise money for the Ukrainian people and military,” The Verge reported late on Saturday.

The country’s official Twitter account has said it accepts Bitcoin, Ethereum and Tether.

Ukraine ranked fourth on Global Crypto Adoption Index, behind Vietnam, India and Pakistan, and about $8 billion of a cryptocurrency passes through the country annually, according to Chainalysis.

“Ukraine is known for its tech talent, with more than 200,000 tech workers, and its IT export business did $6.8 billion in volume last year,” the report mentioned.

It officially legitimized Bitcoin and other cryptocurrencies last year.

As Russia invaded Ukraine, people started donating the Ukrainian army in cryptocurrencies to support them and more than $400,000 worth of Bitcoins were donated to just one group.

Come Back Alive, a Ukrainian NGO that raises crypto funds for the Ukrainian army, received more than $400,000 worth of digital tokens in the past day, according to data from blockchain and crypto analytics firm Elliptic.

The average amount donated is around $1,000 to $2,000, and the group has received at least 317 individual donations in the past two days, reports Fortune.

Pro-Ukraine groups and pro-crypto communities on social media platforms like Twitter and Facebook have also contributed.

More News

Consumption of Dietary Beverages Increase Cardiovascular Disease Risk: Study

A new study has found a link between consuming artificial sweeteners, in dietary beverages, and increased cardiovascular disease risk like stroke. Artificial sweeteners like aspartame,...

Coronavirus: India Reports 6,093 New Covid Cases, 31 Deaths

India reported 6,093 new Covid infections in the past 24 hours against 6,395 cases on the previous day, the Union Health Ministry said on...

Natural Manuka Honey May Help Cure Drug-Resistant Lung Infection

A combination of natural manuka honey with a widely used drug can treat a lethal lung infection and greatly reduce side effects of one...


Work From Home For Maximum Period of One Year In Special Economic Zone: Ministry of Commerce

As per the Commerce Ministry, Work from home (WFH) is allowed for a maximum period of one year in a special economic zone unit...

No GST Will Be Levied On Lentils, Rice, And Flour Including 9 Other Items: FM

Finance Minister Nirmala Sitharaman on Tuesday gave a list of food items that are exempted from GST, provided they are sold loose and not...

Sensex Surges 760.37 Points, Nifty Settles At 16,278.50

The stock market hit a one-week high on Monday. At close Sensex surged 760.37 points or 1.41% at 54,521.15, and the Nifty jumped 229.30...