Tuesday, May 17, 2022
Banner Top
By Ashish Kumar
Published 16 hours ago Updated 15 hours ago

Cryptocurrency is playing a vital role in the ongoing Russia-Ukraine war crisis. Ukraine raised millions of dollars in donations in crypto coins like Bitcoin (BTC), Ethereum (ETH), and Polkadot (DOT). The world’s largest meme-coin DOGE is the latest addition to the list of coins Ukraine will receive donations in.

DOGE for Ukraine

Ukrainian Vice-Prime Minister, Mykhailo Fedorov announced that they are now accepting donations in DOGE coin. While he also said that now Dogecoin has exceeded the Russian ruble in value. While he also expects meme-coins to help them in this crisis.

Ukrainian Vice-Prime Minister tagging DOGE father Elon Musk hints that they might want him to step in. Meanwhile, Elon kept his word and sent the terminals for the Starlink in the war-torn country after the nation appealed him to do so.

Crypto donations for war-effort

In the first of a kind crypto donation for war efforts, Ukraine has crossed the $35 million mark. Donations in crypto are on a surge, as the nation raised over $10 million in a single day. Earlier, The Ukrainian government hinted that they are planning to expand the list of accepted coins as a donation to strengthen its defense against Russia.

It is being reported that organizations like ‘Come Back Alive’ other than the Ukrainian government are also receiving donations in cryptocurrency. Meanwhile, UkraineDAO was also been set up last week to raise funds for the war efforts.

Uniswap, a cryptocurrency exchange, built a function that swaps any Ethereum-based digital currencies into ETH and sends it directly to the Ukrainian government.

Ukrainian Vice-Prime Minister Fedorov expressed this gratitude towards Gavin Wood co-founder Polkadot for the $5 million donations.

The cryptocurrency ecosystem has emerged as a key player amid the Russian invasion of Ukraine. A few weeks ago there were debates going on all over the globe regarding the adoption of cryptocurrencies. Now, people are donating their cryptocurrencies to help a nation to survive.

advertisement
Disclaimer
About Author
Tags: , , ,

Related Article