Help for Ukraine: Donations in Dogecoin and other cryptocurrencies possible

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• US$35 million donated to Ukraine so far

• Uniswap Labs with platform to convert any Ethereum-based currency to ETH

• Donations in Dogecoin have also been possible since March

Since Russia launched its war of aggression against Ukraine, aid programs for Ukraine have been springing up all over Europe: According to the news portal CNBC, donations received in Ukraine amounted to US$ 35 million just one week after the start of the Russian attack -Dollar. The calls for donations have not decreased since then – and there are more and more ways to send money to Ukraine.

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Since February 26, donations can be sent in the form of cryptocurrencies

Ukraine has been accepting donations in the form of cryptocurrencies since February 26, first in Bitcoin (BTC), then in Ethereum (ETH) and finally in Tether. This is reported by CNBC. Tether is a stablecoin, i.e. a crypto asset that is tied to non-digital goods.

On March 1st, Vice President of Ukraine Mykailo Fedorov announced via Twitter that a $DOT donation equivalent to $5 million had been received from Gavin Wood, co-founder of blockchain platform Polkadot.

Crypto Aid for Ukraine launched on March 1st

Also on March 1, Fedorov tweeted that the “Aid for Ukraine” aid program had been launched in cooperation with crypto companies Everstake and Solana.

Also on the same day, Uniswap Labs tweeted that it had developed a platform to convert any digital currency based on the Ethereum blockchain into ETH and send it to Ukraine. This is useful in that Ukraine’s donation platform only seems to accept ETH and USDT.

Fedorov on March 1st: Dogecoin donations are also accepted

According to Fedorov via Twitter, Ukraine has also been accepting Dogecoin since March 2nd, as this currency is now worth more than the Russian ruble. Echoing the story of the Dogecoin, he wrote: “Now even memes can support our army and save lives from the Russian invaders.”

Ukraine also announced an airdrop on Twitter. An airdrop is usually understood to mean the distribution of digital assets to the public, often free of charge. However, Fedorov canceled this on March 3rd and instead explained that work with NFTs was now on the agenda.

Zelenskyj announces four aid funds for later reconstruction of Ukraine

As CNBC reports, Fedorov has also asked the largest cryptocurrencies to block all Russian accounts in recent weeks. This is based on speculation that Russia could use cryptocurrencies to move money out of countries that have imposed sanctions. However, according to experts according to CNBC, this would be rather complicated. Accordingly, Binance announced that it would block the accounts of all sanctioned users – but not the accounts of all Russian users.

In early March, the Ukrainian government published a concept drawn up by President Selenskyj on its website for the use of the donations: There will be four aid funds in the areas of destroyed housing and infrastructure, economic recovery, support for entrepreneurs and debt management.

Olga Rogler / Editor finanzen.net

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