In the last several days, cryptocurrency contributions to Ukraine have skyrocketed. This is the first time a government has utilized Bitcoins to support its military operations.
When it comes to crypto donations for Ukraine, Tuesday was by far the most successful day. In a single day, the government raised $10.7 million in cryptocurrency. The total amount of money raised through cryptocurrency has surpassed the $35 million level.
Crypto contributions are being paid to the government as well as non-governmental groups such as Come Back Alive. Last week, a Decentralized Autonomous Organization, commonly known as UkraineDAO, was established to generate donations for the war-torn country.
On its official Twitter account last week, the government shared a list of specified bank account numbers for foreign cash wire contributions to bolster its military troops. Crypto fans began requesting that the Ukrainian government put up cryptocurrency wallets as well.
The Ukrainian government declared the acceptance of cryptocurrencies in a tweet on Saturday. The tweet included Bitcoin, Ethereum, and USDT wallet addresses. The nation revealed on Monday that they had set up a wallet address that would take Polkadot as well.
Come Back Alive, a non-profit organization was collecting cryptocurrency contributions to aid Ukraine’s military forces in their fight against the Russian invasion. In the year 2021, they raised more than $570,000 in cryptocurrency. Patreon suspended the NGO on Friday due to its support for the war.
UkraineDAO was founded by Russian artists and crypto enthusiasts as a decentralized autonomous organization. The DAO produced an NFT of the Ukrainian flag, which was auctioned off to generate funding for the Ukrainian army. In addition, Ukraine has promised to pay $45,000 in bitcoin to Russian soldiers who lay down their rifles. The cyber organization Anonymous made a similar offer, giving the same amount to soldiers surrendering with their tanks.