Ukraine Expands Crypto Donation Program Exceeding $30 Million
(Bloomberg) -- Ukraine is expanding the list of cryptocurrencies it will be accepting for donation amid an outpouring of support and looming humanitarian crisis after an invasion by Russian forces.
About $31.7 million through 26,000 crypto donations has been collected by Ukraine and non-governmental organizations supporting its military so far, according to blockchain-analytics firm Elliptic.
The country will now also accept Polkadot's DOT, the 11th-biggest cryptocurrency by market value, in addition to Bitcoin, Ether and Tether, according to a statement on a government Twitter account Tuesday. More tokens will be also accepted soon, the post said.
Since Ukraine posted wallets soliciting money a couple days ago, it's received about $8.2 million in a Bitcoin wallet and $7.1 million in an Ether wallet -- almost all of which has subsequently been transferred out -- according to data from Blockchain.com.
Read more: Crypto Billionaire, Pussy Riot Join Effort to Send Ukraine Money
Ukraine has tweeted about a possible crypto airdrop -- or promotional event that typically involves giving away free coins -- saying “an airdrop has not been confirmed yet.” It wasn't immediately clear what sort of airdrop the account was referring to, nor any details about what or who it might involve.
A decentralized relief effort called Aid for Ukraine put together by the country's Ministry of Digital Transformation, crypto exchange FTX and Ukrainian crypto staking platform Everstake will also accept donations via Solana's SOL token, according to a tweet from Mykhailo Fedorov, who leads the ministry.
Bitcoin is up 4.7% to $43,600 on Tuesday amid speculation cryptocurrencies will gain favor in the wake of sanctions against Russia. Ether gained 3.8%, DOT rose 5.8% and SOL added 1.4% over the past 24 hours as of 1:25 p.m. in New York, according to pricing from CoinGecko.
©2022 Bloomberg L.P.
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