Twitter users ask Ukrainian armed forces to start accepting crypto donations
On Thursday, Russia launched a full-scale invasion of Ukraine on multiple fronts, prompting a swift response from the Ukrainian government as it mobilized troops, armed civilians and called upon world leaders to come to its aid.
The same day, the Ministry of Defense of Ukraine began accepting donations for its armed forces by setting up a designated bank account for foreign currency wire transfers. The Ukrainian army cited "numerous requests from individuals and legal entities who are not residents of Ukraine and wish to make donations." It appears one particular part of the memo caught the attention of social media users:
Crypto enthusiasts quickly took to the Ukrainian government's Twitter account, where the link was posted, to ask for the acceptance of digital currency donations. For example, user TechLeakers wrote: "Get a Bitcoin cryptocurrency address. So it will be accepted globally." However, some also voiced their concern over the potential of the Ukrainian Armed Forces accepting crypto donations, with MMusikwolf writing:
But others, such as BiggieWhale, quickly pointed out that stablecoin digital currencies such as USDT are pegged to the U.S. dollar and therefore, theoretically, do not suffer the same degree of price volatility. At least one Ukrainian non-government organization, Come Back Alive, currently accepts BTC donations, with the proceeds going to the Ukrainian Army.
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Due to Russia's military advance, global assets and foreign exchange prices, including the value of Bitcoin (BTC) and the Ukrainian Hryvnia, are currently experiencing steep selloffs.
FTX CEO Sam Bankman-Fried commented on the issue of currency
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