Amid ongoing intense war with Russia, the Ukraine ministry asked for crypto donations to aid military forces as well as humanitarian work. To help in the crisis, many supporters from allied countries came forward to support Ukraine by donating in ETH, BTC, and USDT.
In Brief:
- The donation from the government will be used to help military forces and welfare work.
- Vitalik Buterin create UkraineDAO to raise donations from selling Ukrainian flag NFT.
Ukraine’s Vice Prime Minister Mykhailo Fedorov also posted crypto wallet addresses and urged people to donate in crypto to take the fight against Russian aggressors.
At the time of writing, The Ukrainian government and NGOs have raised over $18.9 million donations in crypto to provide strength to the country. It also includes a $1.86 million donation raised from the sale of NFTs, originally intended to raise funds for Julian Assange.
The Ukrainian government has received 113 BTC and 2001 ETH worth a total of $10 million, as of writing. Alongside the government, Come Back Alive NGO has raised $6.9 million from Bitcoin donations.
However, Ethereum CEO Vitalik Buterin was initially skeptical about the tweet from the ministry and raised concern that the Twitter account might have been compromised by hackers.
However, US senate Tomicah Tillemann has confirmed the crypto addresses with Ukrainian Ambassador Olexander Scherba that “the addresses are correct and in the control of the Ukrainian govt”. He praised that the realm of crypto creates open societies across the world.
After bursting the cloud of confusion, Vitalik Buterin also provided an extra hand to the government to help Ukrainian citizens by promoting UkraineDAO, despite his connection with Russia.
The Russian art collective, Pussy Riot’s Nadya Tolokonnikova is leading a decentralized autonomous organization (DAO) to collect donations from selling 1/1 Ukrainian flag NFT. Apart from her, the DAO also includes members of the investment group PleasrDAO and the NFT studio Trippy Labs.
As per the report, The DAO has raised over $3 million in donations through the auction of the Ukrainian flag NFT. The proceeds generated from UkraineDAO will be directly delivered to the NGO to help innocent civilians, who suffered losses in the war.
Many people across the world including Russians are condemning Russian President Vladimir Putin for this bloodshed. While in the ongoing conflict, the Ukrainian crypto exchange has seen tripled trading volume due to drastic transactions in the cryptos.
