Ukraine, DAO's fundraising via cryptos cheers enthusiasts

economictimes.indiatimes.com:

Ukraine, fundraising via crypto assets has emerged as a key route to show support for those who are in dire need of help. After posting appeals on social media for donations of bitcoin and other digital tokens, Ukraine's government has raised almost $8 million in cryptocurrencies. Ukraine's official Twitter account made the appeal for cryptocurrency donations on Saturday following the country's invasion by Russia, posting digital wallets addresses for tokens including bitcoin and ether.

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Market experts believe crypto fundraising in Ukraine will be a trendsetter for creating such campaigns across the globe. Charles Tan, Head of Marketing at Coinstore, said that it is extremely satisfying to see crypto helping an entire nation in times of crisis. «This truly defines the blockchain revolution which liberates the financial system of the world from the shackles of central banks and puts the power in the hands of ordinary citizens,» he added. Not only the Ukrainian government but a decentralized autonomous organization (DAO) has also been formed to aid resistance following Russia’s invasion and raise money for Ukrainian soldiers facing down the Russian army. UkraineDAO, a fundraising effort coordinated by members of the investment group PleasrDAO, NFT studio Trippy Labs and the Russian art collective Pussy Riot have already raised over $3 million in Ethereum-based tokens. Vikram Subburaj, CEO Giottus Crypto Exchange said it is heartening to see the Ukrainian government as well as other charity organizations, including one named UkraineDAO, appeal for donations in crypto and successfully raising funds. «In the past,