War-hit Ukraine receives $34 million in crypto currency as donations

Image: Atlantic Council

What happened: On March 1, $33.8 million in bitcoin has been donated to Ukraine’s government and non-governmental organisations, according to blockchain analytics firm, Elliptic, a service that records crypto currency transactions. Details: Elliptic’s Chief Scientist, Tom Robinson stated the majority of donations so far have been in bitcoin and ether. Non-fungible tokens, or NFTs, are being sent to the Ukrainian government’s ethereum account by many individuals since Russian invasion. Previously: The Ukrainian government’s official Twitter account published account numbers for two crypto wallets on Feb 26, one accepting only bitcoin and the other ether and tether, a currency that monitors the value of the US dollar. The donations: According to Elliptic, the digital wallets attracted $10.2 million in cryptocurrency which is in addition to the millions of dollars in digital money that have been contributed to non-governmental organisations that support the Ukrainian military whereas the sale of a non-fungible token, or NFT, earned about $1.86 million of the money donated to Ukraine’s government.

Leave a Comment

Your email address will not be published. Required fields are marked *