Ukraine’s plea for fund generates more than $15 Million in crypto

Ukraine’s plea for fund generates more than $15 Million in crypto

Surging political tensions amidst Russian invasion of Ukraine has sped private as well as public initiatives to support the latter sustain the unprecedented attack.

While battling with ongoing assault by Russia, Ukraine used its official Twitter handle to request the world for funds including money or cryptocurrency to support their army sustain against the Russian troops.

Responding to their plea, Ethereum creator- Vitalik Buterin tweeted that the invasion was unjust and invading both Russian and Ukrainian people.

Buterin further retweeted unchain.fund’s tweet asking the entire world to stand in support of Ukraine on humanitarian grounds, if not political.

Credible sources have cited that so far, Ukrainian groups have received over $15 million in cryptocurrency since Russia’s attack on the country on February 24.

The humanitarian movement also united Decentralised Autonomous Organizations (DAOs) and the industry has sold NFTs to raise money for the Ukrainian citizens as well as military.

It has been reported that Ukraine was fourth on the Global Crypto Adoption Index following Vietnam, India, and Pakistan with nearly $8 billion worth of cryptocurrency infused by the country each year.

Technologically equipped, the country is well known for rich pool of tech talent comprising of over 200,000 tech workers with its IT export business standing at $6.8 billion in volume last year, resulting in legitimization of Bitcoin and other cryptocurrencies.

After the Russian attack, several entities started lending the Ukrainian army support in the form of cryptocurrencies providing over $400,000 worth Bitcoin fund to a singular group.

Furthermore, blockchain and crypto analytics have also confirmed that a native NGO ‘Come Back Alive’ which raises funds for the Ukrainian army received digital tokens worth over $400,000 in last 24 hours.

With an average donation of $1,000 to $2,000, a minimum of 317 individual donations helped the Ukrainian group in the last two days.

Social media platforms, such as Twitter and Facebook have allowed pro-Ukraine and pro-crypto communities to help the country and the affected individuals.

Source Credit: https://www.dnaindia.com/world/report-over-15-million-usd-in-cryptocurrencies-raised-for-ukraine-amid-russian-invasion-ukraine-russia-live-updates-2936476