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