fbpx
  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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News

India Has Two Major Obstacles In Dealing With China: Jaishankar 

Speaking at the media summit, Mr. Jaishankar said asserted that India has two enormous handicaps in dealing with China including the defeat in the...

Assam CM’s Dig At Rahul Gandhi Says Rahul Gandhi Looks Like Saddam Hussain

Assam chief minister Himanta Biswa Sarma in his latest dig at Rahul Gandhi said that the Congress leader's looks have changed and he looks...

Nearly 75% Twitter Employees Layoffs In A Month, Will Elon Musk’s New Policy Be Able To Assure The Employees

After cutting nearly 75% workforce of Twitter in less than a month since the takeover, Elon Musk is now reported to have kept the...

RELATED NEWS

Keep Your Money Safe, Jeff Bezos Warns Economic Recession

Amazon founder Jeff Bezos recently warned consumers and businesses that they should consider postponing large purchases during the holiday season as an economic recession...

G20 Presidency Is A Proud Occasion For Every Indian: PM Modi

Indonesia President Joko Widodo handed over the G20 Presidency to India at the closing ceremony of the 17th intergovernmental summit in Bali on Wednesday....

Unmanned Trains Will Run Soon In India

Bharat Electronics Ltd (BEL) has signed an agreement with Delhi Metro Rail Corporation Ltd (DMRC) to jointly develop an indigenous communication-based train control system...