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Ukraine Has Received $22M In Crypto Donations

Amidst the tensions going on between Russia and Ukraine, the latter’s social media pages are more active than ever. From rallying cries for worldwide support to combating disinformation from fake news sites, countless people have supported the account in their own ways. Taking things a step further, the official account posted a Tweet that asked for cryptocurrency donations in either Bitcoin or Ethereum. We’re sure that there are no regrets now as Ukraine has received over $22 million USD in crypto donations over the last week.

As expected, the first thing the public did was to verify whether or not the Ukraine Twitter account had been hacked. It would be a massive loss after all if people made humongous donations then this all turned out to be a scam. Using platforms such as Etherscan verified the wallet address to be legitimate. Then, the donations came raining in like a thunderstorm in the ber months.

This comes at an extremely convenient time as Ukraine had just legalized cryptocurrency a few days prior. As such, there are systems, bills, and laws in place that are built around a deep understanding of crypto as an asset, unlike Russia which is averse to its fundamental concepts. With assets being frozen left and right though, the latter might have to resort to asking for help from experts such as Ethereum founder Vitalik Buterin who has once discussed the benefits of decentralized currency with Russian President Vladimir Putin.

Photo by Sergei SUPINSKY / AFP. Sourced from The Japan Times

Of course, the best result from this would be for these crypto donations to Ukraine to go towards helping the citizens instead of war efforts. The entire world is watching and most have their fingers crossed that full-scale war will never happen – no one wants bloodshed.

In dire situations like this do we find the positive influences of cryptocurrency at play. We hope that this opens the door for other governments to be more accepting of the economics and opportunities behind cryptocurrency as a whole.

 

 

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