Ukraine accepting Bitcoin, Ethereum and USDT donations to support civilians and troops

The Ukrainian government has reached out to the crypto community on Twitter to raise funds to support its citizens and defense. 

Ukraine accepting Bitcoin, Ethereum and USDT donations to support civilians and troops

in the first week of the Russia Ukraine war, the Ukrainian government has reached out to the crypto community on Twitter for raising funds to support its citizens and army. Ukraine has been started accepting Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) as a donation. 

Between defense threats through the country of Ukraine, the government of Ukraine sought help from numerous international organizations. However, considering time is of the essence, the official Twitter account of Ukraine extended its call help to crypto on Twitter. 

Mykhailo Fedorov the vice Prime Minister of Ukraine also shared three crypto wallet addresses urging the crypto community to donate and help Ukraine fight against the Russian defense. While the BTC and ETH addresses remain the same. Fedorov's USDT wallet address is TRC20 based 

Crypto entrepreneurs including Ethereum co-founder Vitalik Buterin initially suspected that the accounts requesting crypto donations were hacked. However, American diplomat Tomicah Tillemann later confirmed its legitimacy from Ukrainian Ambassador Olexander Scherba. 

Ukrainian citizen refugees have reported the loss of access to their fiat savings and credit cards. The United Nations (UN) reported that over 150,000 people have been displaced from Ukraine as of Feb 26.

While confusion prevailed about the intended use of the crypto donations, Buterin shared another decentralized autonomous organization (DAO) initiative that focuses solely on Ukrainian citizens. 

Ukraine DAO, led by Pussy Riot's Nadya Tolokonnikova, published with the release of a 171 nonfungible token (NFT) of the Ukrainian flag to raise funds for Ukrainian citizen organizations to help those suffering from the war initiated by Putin. 

On Feb 24, Ukraine's Ministry of Defence received numerous requests from foreigners for crypto donations. 

It is now believed that proceedings to the addresses shared by the Ukrainian government will be used directly by the government while the DAO proceedings will be redirected towards the citizen welfare via an NGO. 

On Feb 24, prominent crypto entrepreneurs took proactive efforts to aid Ukrainians. FTX CEO Sam Bankman Fried was one of the first to offer monetary support to FTX traders from Ukraine. 

The Ministry of Defense was asked by the crypto community to set up provisions to accept crypto donations. 

Read: Bitcoin bounces back to $38k as Biden announces not to intervene Russia-Ukraine conflict