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The Ukrainian government has reached out to the crypto community on Twitter to raise funds to support its civilians and troops.
In the first week of the Russia-Ukraine war, the Ukrainian government has reached out to the crypto community on Twitter to raise funds to support its civilians and troops. Ukraine has now started accepting donations in Bitcoin (BTC), Ether (ETH) and Tether (USDT).
Amid military threats throughout the country, Ukraine has sought help from numerous international organizations. However, considering that time is of the essence, the official Twitter account of Ukraine extended its call for help to Crypto Twitter.
Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.
BTC - 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH and USDT (ERC-20) - 0x165CD37b4C644C2921454429E7F9358d18A45e14— Ukraine / Україна (@Ukraine) February 26, 2022
Additionally, Mykhailo Fedorov, vice prime minister of Ukraine, also shared three wallet addresses, urging the crypto community to donate and help Ukraine fight against Russian troops. While the BTC and ETH addresses remain the same, the USDT wallet address is TRC-20-based and is different than the address shared by Ukraine’s official Twitter handle.
Stand with the people of Ukraine
Now accepting cryptocurrency donations. Ethereum. Bitcoin and Tether (USDTtrc20)
BTC — 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH — 0x165CD37b4C644C2921454429E7F9358d18A45e14
USDT (trc20) — TEFccmfQ38cZS1DTZVhsxKVDckA8Y6VfCy— Mykhailo Fedorov (@FedorovMykhailo) February 26, 2022
Prominent crypto entrepreneur Vitalik Buterin, co-founder of Ethereum, initially suspected that the accounts requesting crypto donations were hacked. However, American diplomat Tomicah Tillemann later confirmed their legitimacy with Ukrainian Ambassador Olexander Scherba.
Getting some confirmations from a couple sources that it's legit. Deleting my warning for now. But continue to be vigilant, and always be slow and careful when sending irreversible crypto transactions. https://t.co/Odv5pxf3mp
— vitalik.eth (@VitalikButerin) February 26, 2022
Ukrainian civilians-turned-refugees have reported the loss of access to their fiat savings and credit cards. The United Nations reported that over 150,000 people have been displaced from Ukraine as of Saturday.
My Ukrainian credit cards don't work anymore. I'm safe physically in Kazakhstan, but all my savings are gone.
Crypto is the only money I still have, and today I can say without exaggeration that $BTC, $ETH, and #NFT are going to save my life while I can't come back home.— ARTYOM FΞDOSOV (@usleepwalker) February 25, 2022
While confusion has prevailed about the intended use of the crypto donations, Buterin shared another initiative, this one a decentralized autonomous organization that focuses solely on Ukrainian citizens.
An opportunity to support Ukrainians here! Proceeds go to civilian efforts helping Ukrainians suffering from the war. https://t.co/GD7Qlw61nT
— vitalik.eth (@VitalikButerin) February 26, 2022
UkraineDAO, led by Pussy Riot’s Nadya Tolokonnikova, launched with the release of a one-of-one nonfungible token (NFT) of the Ukrainian flag to raise funds for Ukrainian civilian organizations working to help those suffering from the war.
On Thursday, Cointelegraph reported that Ukraine’s Ministry of Defence had received numerous requests from foreigners requesting it accept crypto donations.
crypto donations could be helpful: its really easy, fast, cheap and secure
also consider this method— timo (@tymo_tt) February 24, 2022
Although unconfirmed, it is now believed that donations to the addresses shared by Ukraine will be used directly by the government, while the DAO proceedings will be redirected toward citizens’ welfare via an NGO.Â
Related: Crypto community reacts to Russia’s war in Ukraine
Since Thursday, prominent crypto entrepreneurs have taken proactive efforts to aid Ukrainians. FTX CEO Sam Bankman-Fried was one of the first, offering monetary support to FTX traders from Ukraine.
we just gave $25 to each Ukrainian on FTX
do what you gotta do— SBF (@SBF_FTX) February 24, 2022
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