Ukraine accepts dogecoin donations among other things to support the war effort


© Reuters

Investing.com – Ukraine has expanded the number of cryptocurrencies that can be donated. The funds raised are intended to supply his army which badly needs resources to resist the Russian invasion.

In this regard, Mykhailo Fedorov, Ukrainian Deputy Prime Minister, said on Wednesday that donations could be made through the sending of dogecoins.

From meme to military support

The dogecoin, which at first was just a joke, finds itself participating in the war effort of Ukraine. The crypto first found an audience thanks to the support of Elon Musk who spoke about it several times.

It is often nicknamed “memecoin”, in reference to popular internet jokes. “Now even memes can support our army and save lives from Russian invaders,” Fedorov tweeted.

Other crypto projects to the rescue of Ukraine

Mr. Fedorov tweeted on Tuesday (NYSE:) about a project called Aid For Ukraine which is a collaboration between the Ukrainian government, Everstake and . The project allows donations in Solana as well as any other Solana-based digital token.

Meanwhile, has built a function that allows people to convert any ether-based digital currency into ether and send it to the Ukrainian government.

Fedorov also said that Gavin Wood, the co-founder, donated the equivalent of $5 million to Ukraine.

On February 26, Ukraine started accepting cryptocurrencies for donations and started with , ether and tether.

A popular aid

The Ukrainian government has raised $35 million, through more than 35,000 cryptocurrency donations since the start of the Russian invasion, according to Elliptic, a blockchain analytics firm.

However, crypto donations remain relatively small compared to funds raised through war bonds, which brought in around $270 million.

Cryptocurrencies have become a hot topic during this dispute. While they help fund the Ukrainian war effort, there are fears the Russians are using them to circumvent sanctions.

Responsibility: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link -95