The crypto community is sending millions of dollars worth of Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) to Ukraine as the nation faces military aggression from Russia.
The surge in donations comes after Ukraine’s official Twitter account posted that it is now accepting crypto assets to help the country in the current geopolitical crisis.
The account also posted the Bitcoin (BTC) and Ethereum (ETH) wallet addresses where people can send their crypto contributions.
Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.
BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14
— Ukraine / ??????? (@Ukraine) February 26, 2022
According to Bitinfocharts, the associated Bitcoin address, which was created on February 24th, received as much as 61.39 BTC in donations worth $2.39 million on February 27th. The majority of the donations are worth less than 1 BTC.
A sizeable portion of the accumulated Bitcoin has been withdrawn since, and the wallet’s balance currently stands at 16.46 BTC worth $622,920.
As for the Ethereum wallet of Ukraine’s official Twitter account, Etherscan shows that the address involved has over 6,300 transactions. On February 27th, the wallet held 1,961 ETH worth $5.13 million. A big chunk of the accumulated donations has been withdrawn, leaving the wallet with a balance of 119 ETH worth $312,812.
Crypto donations also poured into non-government organizations (NGOs) and volunteer groups that are raising funds for Ukraine. Data from blockchain analytics firm Elliptic shows that one NGO received $3 million worth of BTC on Friday.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Tithi Luadthong