Ukraine minister Fedorov tweets thanks for crypto donations on Easter
April 17, 2022, 5:48AM EDT
1 min read
Mykhailo Fedorov, vice prime minister and minister of digital transformation of Ukraine, tweeted his thanks today to those donating to crypto charity Aid for Ukraine, saying: “Crypto for good. Aid for Ukraine continues its work for the frontline heroes: 200 sets of ballistic plates of 4 class for bulletproof vests have been sent. The better equipped soldiers — the sooner day of Ukrainian victory.”
Just days after the Russian invasion began, the Ukrainian government authorized Aid for Ukraine, a decentralized autonomous organization (DAO) in collaboration with blockchain service Everstake and crypto trading firm FTX, to collect cryptocurrency for the defense effort.
The plan was hatched in haste, the Financial Times reported, when Fedorov, 31, told his deputy to set up official government wallets that could accept payments in cryptocurrency, a plan that quickly evolved into the Aid for Ukraine website, which accepts donations in nine cryptocurrencies including bitcoin, ether, tether, solana and dogecoin.
The Ukrainian government had spent half of more than $100 million in crypto fundraising as of March 19, on thousands of bulletproof vests, food rations, helmets and medical supplies — deliberately choosing to spend the funds on non-lethal equipment, so as not to deter future donors, the FT said.
From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.