It shocked the world when Russia invaded Ukraine about two weeks ago. Putin activated his nuclear arsenal. As a result, many people may feel that we are on the brink of world war 3. On the other hand, Ukrainian resistance is fierce. They managed to slow down the Russian invasion.
Meanwhile, support for the Ukrainian case has started all over the world. Many countries implemented severe sanctions against Russia. Therefore, in this article, you will discover more about how crypto donations are impacting this war.
Furthermore, over 20,000 volunteers went to Ukraine to fight side to side with the local troops. For all other sympathizers, fundraising seems to be the solution to show your empathy. Cryptocurrencies are a surprising element in this!
Crypto Donations to Ukraine
Crypto donations are possible. The Ukrainian government made three addresses available. Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
As a result, donations came in hard and fast. As of Saturday, the counter stopped at $57 million. There are a variety of ways to donate. Here are 4 alternatives:
- Ukraine DAO alone raised $6.75 million. Nadya Tolokonnikova, Pussy Riot founder, set up this DAO. Pussy Riot is a Russian art collective. They have already organized many other strong protests in Russia. However, protests against Putin are risky business in Russia. As a result, Pussy Riot members have done jail time. Nonetheless, she raised this amount in part by selling an NFT of the Ukrainian flag. Fractionalized, of course!
raised for @BackAndAlive to fund medical help for Ukrainians
auction ends in 1 day 17 hours ‼️
— UkraineDAO (@Ukraine_DAO) February 28, 2022
2. Come Back Alive raised money for a while already. They are a Ukrainian group. During the last 6 months of 2021, they raised $200,000 to support troops in the civil war. However, the day Russia invaded Ukraine, 24 February, this amount doubled. On the 25th of February, crypto donations stopped at $3.4 million for the day. This includes a single donation of $3 million.
3. Reserve fund of Ukraine, this seems to be the official Ukrainian government. Their crypto address links to the Ukrainian Kuna crypto exchange. At the start of the weekend, they raised already over $34 million.
Stand with the people of Ukraine
Now accepting cryptocurrency donations. Ethereum. Bitcoin and Tether (USDTtrc20)
BTC — 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH — 0x165CD37b4C644C2921454429E7F9358d18A45e14
USDT (trc20) — TEFccmfQ38cZS1DTZVhsxKVDckA8Y6VfCy
— Mykhailo Fedorov (@FedorovMykhailo) February 26, 2022
4. Other Donations That Stand Out
- The Ukrainian government received various NFTs. This includes one CryptoPunk worth around $200,000.
- Polkadot founder Gavin Wood donated $5.8 million.
As part of the worldwide sanctions, the Russian Ruble saw a serious price drop. Although war is most certainly a serious business, during which people die, memes are also part of it. Here is one of the memes that spread like wildfire after the sanctions started.
Source: Silviu Monteanu Twitter account
With the variety of crypto donations available, people are not shy to donate. In general, it is safe to say that crypto had a defining moment. The way crypto allowed for fast and secure help is fascinating. No borders, weekends, or timely transfers stopped crypto. For instance, the given samples give an outstanding use case for DAOs.
Moreover, the Russian-Ukrainian war made a case for crypto. When somehow bank accounts shut down, there is now a viable alternative.
Finally, just as a warning, in case you want to donate. Be vigilant, there are always people around that try to profit from situations like this. Make sure to only use official accounts and addresses. Always check the authenticity of addresses.
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Above all, for more cryptocurrency news, check out the Altcoin Buzz YouTube channel.