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Ukraine's government raises crypto worth $8 million in crowdfunding appeal

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Tom Wilson, Reuters

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. Benoit Tessier, Reuters/File Photo" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/tvpatrol/02/28/bitcoin.jpg"/><figcaption>A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. <em>Benoit Tessier, Reuters/File Photo</em></figcaption></figure></div><p>LONDON - Ukraine&#x27;s government has raised almost $8 million in cryptocurrencies after posting appeals on social media for donations of bitcoin and other digital tokens, according to blockchain analysis company Elliptic.</p><p>Ukraine&#x27;s official Twitter account made the appeal for cryptocurrency donations on Saturday following the country&#x27;s invasion by Russia, posting digital wallets addresses for tokens including bitcoin and ether.</p><p>Ukraine&#x27;s Vice-Prime Minister Mykhailo Fedorov Tweeted the wallet addresses. &quot;Stand with the people of Ukraine. Now accepting cryptocurrency donations,&quot; wrote Fedorov, who is also minister of digital transformation.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/09/21/bitcoin-in-el-salvador-how-will-it-work">Bitcoin in El Salvador: How will it work?</a></li>	<li><a href="https://news.abs-cbn.com/business/09/07/21/in-world-first-bitcoin-becomes-legal-tender-in-el-salvador">In world first, bitcoin becomes legal tender in El Salvador</a></li>	<li><a href="https://news.abs-cbn.com/business/01/26/22/imf-urges-el-salvador-to-remove-bitcoin-as-legal-tender">IMF urges El Salvador to remove Bitcoin as legal tender</a></li></ul><p>The donations came as Russian military vehicles pushed into Ukraine&#x27;s second-largest city Kharkiv on Sunday and explosions rocked oil and gas installations on a fourth day of fighting in the biggest assault on a European state since World War Two.</p><p>By 1030 GMT Sunday, the wallet addresses had received crypto worth $7.9 million across almost 11,500 donations, London-based Elliptic said. The company tracks the movement of digital coins on the blockchain, a public ledger that records crypto transactions.</p><p>Ukraine&#x27;s ministry of digital transformation did not immediately reply to requests for comment.</p><p>Its crypto crowdfunding appeal is unprecedented. Though some states such as El Salvador have embraced cryptocurrencies, Ukraine&#x27;s appeal for direct donations is among the first of its kind. It was not clear what Kyiv would use the funds for.</p><p>Crypto donations to Ukrainian volunteer and hacking groups have also spiked since Russia launched its invasion on Thursday, Elliptic said this week.</p><p>The donations to such groups, some of which have supplied equipment to government forces, grew strongly in January as Russia massed troops near Ukraine&#x27;s border ahead of its invasion.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/27/22/official-kremlin-website-down-amid-war-in-ukraine">Official Kremlin website down amid war in Ukraine, Anonymous claims takedown</a></li>	<li><a href="https://news.abs-cbn.com/overseas/02/27/22/ukraine-to-meet-russia-as-putin-alerts-nuclear-forces">Ukraine says will meet Russia as Putin puts nuclear defenses on alert</a></li>	<li><a href="https://news.abs-cbn.com/news/02/26/22/dfa-pinoys-with-families-in-ukraine-reluctant-to-leave">DFA: Some Pinoys with families in Ukraine concerned they’d be forcibly repatriated</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe __idm_id__="6922241" allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1942345" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

Its crypto crowdfunding appeal is unprecedented. Though some states such as El Salvador have embraced cryptocurrencies, Ukraine's appeal for direct donations is among the first of its kind. It was not clear what Kyiv would use the funds for.

Ukraine's government raises crypto worth $8 million in crowdfunding appeal

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Ukraine's government raises crypto worth $8 million in crowdfunding appeal

Tom Wilson,

Reuters

Published Feb 28, 2022 08:21 AM PHT

Read More:

Ukraine

Russia

invasion

cryptocurrency

crypto crowdfunding

blockchain

fintech

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