Every Bitcoin helps: Crypto-fueled relief aid for Ukraine
The people of Ukraine require the world’s help more than ever before. As the conflict between Russia and Ukraine continues to rage on, the world must rally behind the Ukrainian government to bring back peace and stability to the Eastern European nation.
The crypto community has done just that with nonfungible token (NFT) companies, decentralized autonomous organizations (DAOs) and crypto users all over the world leading the effort to help aid Ukraine with donations of Bitcoin (BTC), Ether (ETH), Polkadot’s DOT and even NFTs.
It is impressive how fast the crypto community got behind the Ukrainian people. Two days after the Russian military entered Ukrainian territory, the Ukrainian government asked for crypto donations on Twitter, sharing Bitcoin and Ethereum wallet addresses. Vice Prime Minister of Ukraine Mykhailo Fedorov confirmed on his Twitter account that the call for donations was real and asked people to stand with the nation.
Stand with the people of UkraineNow accepting cryptocurrency donations. Ethereum. Bitcoin and Tether (USDTtrc20)BTC — 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1PETH — 0x165CD37b4C644C2921454429E7F9358d18A45e14USDT (trc20) — TEFccmfQ38cZS1DTZVhsxKVDckA8Y6VfCy
Soon after Ukraine’s vice prime minister tweeted the government’s crypto addresses, crypto started to zip into the Ukrainian government’s wallets at unprecedented speeds. In fact, Ukraine ranks fourth on the Global Crypto Adoption Index, compiled by data firm Chainalysis, which estimates that roughly $8 billion worth of cryptocurrency enters and exits the country annually. According to the New York Times, the daily volume of cryptocurrency transactions stands at around $150 million, exceeding the volume of interbank exchanges in the hryvnia.
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