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Ukraine raises a surplus of $13 million in cryptocurrency

The Ukrainian government posted numerous cries for support on social media which call for funding in the form of cryptocurrency. This gained positive traction and allowed Ukraine to raise over $13 million.

We have seen the power of Twitter and cryptocurrency as many people and organisations have been able to donate cryptocurrency to support Ukraine during these trying times.

Ukraine’s Vice-Prime Minister Mykhailo Fedorov, who is also minister of digital transformation, tweeted “Stand with the people of Ukraine. Now accepting cryptocurrency donations”.

A London based company, Elliptic, tracks the movement of digital coins on the blockchain, was able to verify that there have been over 17300 donors which have donated funds worth over $13 million to Ukraine.

Mr Fedorov explained that the funds will be used to, “How will we use money? To destroy as much Russian soldiers as possible.”

This is a significant moment for cryptocurrencies as the general public is able to witness the power of cryptocurrency especially during such unprecedented times.

Photo by Jievani Weerasinghe

About the author, Leyla Ozturk

Leyla Ozturk, lifelong learner currently immersed in the digital world and the way businesses can step into this world. Deeply fascinated by blockchain, cryptocurrency and the whole Fintech ecosystem. All 3 areas have proven that there are issues within the system, there are ways to improve the system and this disruption is needed for economic growth and improvement.

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