BTC, ETH, and USDT donations to be used by Ukraine to fund ongoing war

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The Ukrainian government reached out to the crypto community in the first week of the Russia-Ukraine war to raise crypto donations to support its people and military. Ukraine has begun taking donations in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

As Russia threatens to conquer Ukraine’s capital city of Kyiv, there has been heavy talk on social media, with many big names coming forward to express their concerns over the safety of citizens of the two nations.

The government has been seeking assistance from various foreign organizations. Because time is of the utmost importance, Ukraine’s official Twitter account has reached out to Crypto Twitter for assistance.

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Ukraine shared three wallet addresses for donation

In addition, Ukraine’s Vice Prime Minister, Mykhailo Fedorov, shared three cryptocurrency wallet addresses, inviting the crypto world to donate and support Ukraine in its struggle against Russian forces. 

Fedorov’s USDT wallet address is TRC20-based, while his BTC and ETH addresses remain the same.

Renowned crypto entrepreneurs, including Ethereum co-founder Vitalik Buterin, originally believed that the demanding crypto donations were being hacked. However, Ukrainian Ambassador Olexander Scherba later verified its legality to American diplomat Tomicah Tillemann.

Civilians in Ukraine who have become refugees have reported losing access to their fiat savings and credit cards as a direct result of the ongoing conflict.

Another DAO plan for donations

While there was some doubt about how the crypto donations would be used, Buterin shared another decentralized autonomous organization (DAO) plan that is purely focused on Ukrainian citizens.

UkraineDAO, founded by Nadya Tolokonnikova of Pussy Riot, began with the issue of a 1/1 non-fungible token (NFT) of the Ukrainian flag to generate donations for Ukrainian civilian organizations to assist those affected by Putin’s conflict.

It is presently believed that proceedings to the Ukrainian government’s shared addresses would be used directly by the government, while DAO proceedings will be channeled to citizen welfare via an NGO.

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