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Ukraine continues to see a significant influx of cryptocurrency donations, with a value reaching $ 30 million, with a total of $ 27.2 million already raised. The Ukrainian government and nonprofits have raised about $ 27.2 million in cryptocurrency donations, according to data from blockchain analytics firm EllMeanwhile, Ethereum co-creator Vitalik Buterin has asked for cryptocurrency donations to support a variety of charitable causes. Donations are made most frequently in Bitcoin, Ethereum, and US Dollar stablecoins. Non-fungible tokens (NFTs) have also been given to the government as a contribution.
Crypto's usefulness in fundraising demonstrates the industry's potential to accelerate cross-border money transfers that avoid financial institutions.
Donations of cryptocurrencies in advance
When Russia threatened to continue its invasion on February 8, Bitcoin donations began pouring into Ukraine. The donations were mostly led by Ukrainian volunteers and hacker collectives who led the prosecution in condemning Russia's actions.
Like Back Alive, a Ukrainian non-profit organization dedicated to supporting the country's armed forces, was one additionally, Help Ukraine ($ HUKR) has donated Ethereum to the Support Ukraine Sovereignty initiative. The money goes to various charities in the country. However, scammers could take advantage of the situation by deceiving many unsuspecting supporters.
Surprisingly, the Ukrainian government appeared to soften its opposition to cryptocurrency donations. The military at one point stated that they could not accept cryptocurrencies as funds.
Ukrainian population
Ukraine is an Eastern European country. It is the second-largest country in Europe by size, after Russia, which borders to the east and northeast. Ukraine's current population is 43,301,680 as of Thursday, February 24, 2022.
Summary of the Russia-Ukraine conflict
The conflict started in February 2014, when Russia and pro-Russian forces attacked Ukraine, mainly for the state of Crimea and parts of Donbas. The main focus of the war was the status of Crimea and other disputed territories which are widely considered part of Ukraine by international law.
the recipients. However, the charity's Patreon membership was suspended on February 24, due to policy violations.optic.
Binance, a cryptocurrency exchange, has pledged $ 10 million in an emergency fund to assist war-affected Ukrainians. The total of confirmed donations has now reached $ 27.2 million. Binance CEO Changpeng Zhao said the company will provide $ 10 million in aid to charities.
these grants will go to various organizations, including non-governmental organizations and government agencies, for courses such as military assistance and humanitarian aid. It should be noted that the donations are still ongoing, with a value of more than $ 27.2 million in cryptocurrency.
The strengthening of the Russian military on the border with Ukraine exacerbated tensions between the two countries and strained bilateral ties in the period 2021-22, with the United States sending a strong message that an invasion would serious consequences for the Russian economy.
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