Ukraine accepts Bitcoin, Ethereum and USDT donations to fund ongoing war

In the first week of the war between Russia and Ukraine, the Ukrainian government has reached out to the crypto community on Twitter to raise money to support its citizens and troops. Ukraine has now started accepting Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) as donations.

As Russia threatens to take over the Ukrainian capital Kiev, the government of Ukraine has enlisted the help of numerous international organizations to counter the imminent threat. However, as time is of the essence, Ukraine’s official Twitter account extended its appeal for help to Crypto Twitter.

In addition, the Deputy Prime Minister of Ukraine Mykhailo Fedorov also shared three crypto wallet addresses and urged the crypto community to donate and help Ukraine in the fight against the Russian forces. While the BTC and ETH addresses remain the same, Fedorov’s USDT wallet address is TRC20-based (different from the address shared by the Ukrainian office’s Twitter handle).

Prominent crypto entrepreneurs, including Ethereum co-founder Vitalik Buterin, initially suspected that the accounts requesting crypto donations had been hacked. However, American diplomat Tomicah Tillemann later confirmed his legitimacy to Ukrainian ambassador Olexander Scherba.

As a direct result of the ongoing war, Ukrainian civilian refugees have reported being unable to access their fiat savings and credit cards. The United Nations (UN) reported that more than 150,000 people were displaced from Ukraine on February 26.

While there has been confusion over the intended use of the crypto donations, Buterin shared another initiative by the Decentralized Autonomous Organization (DAO) that targets Ukrainian citizens only.

On February 24, Coin-Crypto reported that the Ukrainian Defense Ministry received numerous requests from foreigners for crypto donations.

Although not confirmed, it is now believed that procedures to the addresses shared by the Ukrainian government will be used directly by the government, while the DAO procedures will be forwarded through an NGO for the good of the citizen.

Related: Crypto Community Responds to Russia’s War in Ukraine

As soon as the war between Russia and Ukraine broke out, prominent crypto entrepreneurs took proactive efforts to help Ukrainians. Sam Bankman-Fried, CEO of FTX, was one of the first to offer monetary support to FTX traders from Ukraine.

As Coin-Crypto previously reported, the Department of Defense was asked by the crypto community to set up facilities to accept crypto donations – which were previously unavailable.

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