{"id":219757,"date":"2022-02-27T14:00:20","date_gmt":"2022-02-27T08:30:20","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=219757"},"modified":"2022-02-27T13:55:32","modified_gmt":"2022-02-27T08:25:32","slug":"why-the-5m-in-bitcoin-ether-usdt-donations-for-ukraine-matters","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/why-the-5m-in-bitcoin-ether-usdt-donations-for-ukraine-matters\/","title":{"rendered":"Why the >5M in Bitcoin, Ether, USDT donations for Ukraine matters"},"content":{"rendered":"

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.<\/p>\n

Friends in need. . .<\/h4>\n

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<\/a> on the 2021 Chainalysis Global Crypto Adoption Index, this wasn’t a surprise.<\/p>\n

However, the response has been both complex and overwhelming.<\/p>\n

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.<\/p>\n

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Source: blockchain.com<\/a><\/figcaption><\/figure>\n

Additionally, Etherscan shows that the second address has received around 1,636 Ether or roughly $4.4 million in donations.<\/p>\n

However, it’s important to keep in mind that these are not the only organizations and sources soliciting donations.<\/p>\n

Furthermore, others like Tron founder Justin Sun have also sent funds. For his part, Sun donated $200,000 <\/span>USDT<\/span><\/a>\u00a0on the Tron blockchain.<\/p>\n

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Source: Etherscan<\/a><\/figcaption><\/figure>\n

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.<\/p>\n

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An opportunity to support Ukrainians here! Proceeds go to civilian efforts helping Ukrainians suffering from the war. https:\/\/t.co\/GD7Qlw61nT<\/a><\/p>\n

— vitalik.eth (@VitalikButerin) February 26, 2022<\/a><\/p><\/blockquote>\n