Ukraine accepts Bitcoin, Ethereum, USDT donations to fund ongoing war

Within the archetypal week of the Russia-Ukraine war, the Ukrainian authorities has reached retired to the crypto assemblage connected Twitter for raising funds to enactment its civilians and troops. Ukraine has present started accepting Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) arsenic donations.

As Russia threatens to instrumentality implicit Ukraine’s superior metropolis of Kyiv, the authorities of Ukraine sought assistance from galore planetary organizations to overpower the imminent threat. However, considering clip is of the essence, the authoritative Twitter relationship of Ukraine extended its telephone for assistance to Crypto Twitter.

— Ukraine / Україна (@Ukraine) February 26, 2022

Additionally, the Vice Prime Minister of Ukraine Mykhailo Fedorov besides shared 3 crypto wallet addresses urging the crypto assemblage to donate and assistance Ukraine combat against the Russian troops. While the BTC and ETH addresses stay the same, Fedorov’s USDT wallet code is TRC20-based (different from the code shared by Ukraine’s bureau Twitter handle).

— Mykhailo Fedorov (@FedorovMykhailo) February 26, 2022

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

Getting immoderate confirmations from a mates sources that it's legit. Deleting my informing for now. But proceed to beryllium vigilant, and ever beryllium dilatory and cautious erstwhile sending irreversible crypto transactions. https://t.co/Odv5pxf3mp

— vitalik.eth (@VitalikButerin) February 26, 2022

As a nonstop effect of the ongoing war, Ukrainian civilian-turned refugees person reported the nonaccomplishment of entree to their fiat savings and recognition cards. The United Nations (UN) reported that implicit 150,000 radical person been displaced from Ukraine arsenic of Feb. 26.

— ARTYOM FΞDOSOV (@usleepwalker) February 25, 2022

While disorder prevailed astir the intended usage of the crypto donations, Buterin shared different decentralized autonomous enactment (DAO) inaugural that focuses solely connected Ukrainian citizens.

An accidental to enactment Ukrainians here! Proceeds spell to civilian efforts helping Ukrainians suffering from the war. https://t.co/GD7Qlw61nT

— vitalik.eth (@VitalikButerin) February 26, 2022

On Feb. 24, Cointelegraph reported that Ukraine’s Ministry of Defence received galore requests from foreigners for crypto donations. 

crypto donations could beryllium helpful: its truly easy, fast, inexpensive and secure
also see this method

— timo (@tymo_tt) February 24, 2022

Although unconfirmed, it is present believed that proceedings to the addresses shared by the Ukrainian authorities volition beryllium utilized straight by the authorities portion the DAO proceedings volition beryllium redirected towards the national payment via an NGO. 

Related: Crypto assemblage reacts to Russia's warfare successful Ukraine

As soon arsenic the Russia-Ukraine warfare broke out, salient crypto entrepreneurs took proactive efforts to assistance Ukrainians. FTX CEO Sam Bankman-Fried was 1 of the archetypal to connection monetary enactment to FTX traders from Ukraine.

— SBF (@SBF_FTX) February 24, 2022

As Cointelegraph antecedently reported, the Ministry of Defense was asked by the crypto assemblage to set up provisions to judge crypto donations — which was antecedently unavailable.