Ukraine Amasses Nearly $11M Crypto Donations In 2 Days — Dogecoin, Polkadot Backers Call For Their Coins' Acceptance

Ukraine Amasses Nearly $11M Crypto Donations In 2 Days — Dogecoin, Polkadot Backers Call For Their Coins' Acceptance

Ukraine has raised almost $11 million following its public appeal for donations in cryptocurrencies such as Bitcoin BTC/USD and Ethereum ETH/USD in the aftermath of Russia's invasion of the country.

What Happened: The Ukrainian government's Bitcoin address has received a total of 115.04 BTC, at the time of writing. Based on Bitcoin’s price of $38,068.93 at press time, the coins received by the government are valued at $4.38 million.

The government’s Ethereum address has so far received 2,115.4 ETH, which is valued at $5.55 million based on Ethereum’s price of $2,623.21 at press time. The government’s Tether address has received a total of $1.04 million USDT.

See Also: How To Buy Bitcoin (BTC)

Why It Matters: Ukraine Vice Prime Minister Mykhailo Fedorov had earlier shared three crypto wallet addresses and urged the community to donate as Russian forces continued to attack Ukraine.

In addition to the efforts by the government, cryptocurrency exchange Binance said it was donating $10 million “to help the humanitarian crisis in Ukraine,” and also launched a fund to provide emergency relief for Ukraine through crypto crowdfunding.

Others in the cryptocurrency community such as Dogecoin DOGE/USD have also offered to help Ukraine.

The founder of Polkadot DOT/USD, Gavin Wood, said he would personally contribute $5 million if Ukraine opened a DOT address.

Price Action: Bitcoin is down 1.2% during the past 24 hours, trading at $38375.27 at press time. Ethereum is down 3.7% during the period to $2,638.34.

Read Next: 'No Place For War Criminals In Metaverse:' Ukraine Praises Facebook And Others' Efforts To Boot Russia Out From Their Platforms

Posted In: BitcoindogecoinEthereumPolkadotRussia-Ukraine WarUkraineCryptocurrencyNewsMarkets

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