Ukraine Receives Over $14 Million Crypto Donations After Russian Invasion

The Ukrainian government has been directly soliciting crypto donations for some time now, adding to crowdfunding efforts that have raised more than $5 million in Bitcoin, Ether and other tokens since Friday. According to the Financial Express, the government had urged for crypto donations in a tweet this Saturday evening. “Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT,” the tweet read. The call for aid comes at a time of financial disruption caused by the recent onset of a Russian invasion.

Subsequently, Ukrainian officials and non-governmental organizations (NGOs) have raised $14.2 million in anonymous crypto donations till 4 pm Sunday, notes blockchain analysis company Elliptic. The swift response was noted from many places across the globe, this includes a single donation worth $1.86 million, which appears to have originated from the sale of NFTs originally intended to raise funds for Julian Assange.

Patreon Suspends Millions Of Dollars In Crypto Donations

An Elliptic blog published on Friday with live updates on donations stated that the addresses had already received $7.9 million across 11,494 transactions. Among them was a transaction that gave one NGO a single Bitcoin donation worth $3 million. Furthermore, several million dollars in cryptocurrency donations have also been received by Come Back Alive, a Ukrainian NGO supporting the military.

This donation by Come Back Alive, however, was reportedly suspended by famed fundraising giant Patreon, which lets groups and individuals raise money from consumers. The suspension allegedly comes due to policy violations by the non-governmental organization since it aimed to support Ukrainian soldiers. 

ETH Founder Vitalik Buterin Is With The Crypto Supporters

“An opportunity to support Ukrainians here! Proceeds go to civilian efforts helping Ukrainians suffering from the war,” Ethereum founder Vitalik Buterin tweeted the message earlier today. He is one amongst a plethora of enthusiastic crypto investors that have taken on the baton to support the Ukrainian military fundraise during the current crisis. “I have talked to the embassy of @Ukraine to the @WTO and the embassy has replied to me in 5 mins that “the information you have is correct!” So all the addresses have been verified! Let’s do it! Don’t miss this chance!,” tweeted Justin Sun, Founder of Tron crypto, who has shared multiple posts in support of the fundraising effort so far.

Sneh Dokania is an Economics major student with an inquisitive disposition seeking to articulate facts, information and news stories in a candid manner on Clout News.

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