Why the >5M in Bitcoin, Ether, USDT donations for Ukraine matters

ambcrypto.com:

As civilians in Ukraine take up arms and build Molotov cocktails, crypto-donations are streaming in from supporters all over the world to help military and relief efforts. With the struggle becoming both physical and cyber, it’s time to take a look at the action on the blockchain.

Ukraine’s official Twitter account – previously known for scenic photos of the country and historical trivia – recently shared addresses to accept Bitcoin, Ether, and USDT donations. As one of the top five countries on the 2021 Chainalysis Global Crypto Adoption Index, this wasn’t a surprise.

However, the response has been both complex and overwhelming.

When looking at the Bitcoin blockchain data for the linked address, we can see that more than 33 BTC or about $1.3 million has been sent to the address. Meanwhile, the address has sent seven BTC.

Source: blockchain.com

Additionally, Etherscan shows that the second address has received around 1,636 Ether or roughly $4.4 million in donations.

However, it’s important to keep in mind that these are not the only organizations and sources soliciting donations.

Furthermore, others like Tron founder Justin Sun have also sent funds. For his part, Sun donated $200,000 USDT on the Tron blockchain.

Source: Etherscan

In fact, Ethereum founder Vitalik Buterin also promoted UkraineDAO – a project to “sell” the country’s now famous blue-and-yellow flag in order to raise funds for civilian efforts.

— vitalik.eth (@VitalikButerin) February 26, 2022

Crypto-donations are more than a publicity stunt in the Russia-Ukraine war. After the National Bank of