It is not surprising that international support for Ukraine has continued to grow in the wake of the Russian invasion.
After Russia's invasion of Ukraine, experts from all walks of life began to fear the worse. For example, cybersecurity experts began to answer whether a global cyberwar was imminent. The cryptocurrency industry didn't sit idle either.
The world's largest cryptocurrency exchange by trading volume, Coinan, announced a $10 million donation to Ukraine. An emergency fund was also launched for the affected country. On his Twitter account, the CEO CZ notes , "Our focus is on providing on-the-ground support. We care about the people."
#coinan is donating $10 million to help with the humanitarian crisis in Ukraine and @BinanceBCF Launched cryptocurrency’s first crowdfunded Ukraine emergency relief fund. 🇺🇦Our focus is on providing on-the-ground support. We only care about the people.
The launch of the official statement of Cryptocurrency on the charity fund.
In response to the Russia-Ukraine crisis, we donated $10 million to key intergovernmental and non-governmental organizations to provide emergency assistance to refugees and children, as well as logistical support such as food, fuel and supplies for refugees.
Cryptocurrency industry supports Ukraine
The Ukraine Emergency Fund, launched by Coin, has raised over $6 million in donations. The fund is dedicated to helping those recently affected by natural disasters and violence in the Eastern European country of Ukraine.
Sam Bankman Fried, founder of FTX, announced that he donated $25 worth of cryptocurrency to every user in Ukraine following the Russian war crisis.
Bitcoin is trying to break above its $40,000 support level | Source: BTC/USD K-line chart on Tradingview.com
FTX (Bahamas Cryptocurrency Exchange) offers advanced trading options, such as margin and futures trading. Unfortunately, they are not accessible to US residents due to US laws that prohibit them from operating within their own turf. However, another competitor called FTX.US offers fewer cryptocurrency options than you'll find on regular forex platforms around the world.
Deepak Thapliyal, CEO of Chain.com, has donated 100 ETH (about $278,000) to help fund the cause.
Deepak Thapliyal, commenting on BuzzFeed News, said White.
When I realized that the Ukrainian government was asking for donations in the form of cryptocurrency, I felt compelled to do my part to help. Cryptocurrency donations are borderless and almost instantaneous, so I hope the government there will soon be able to use it to help people in need.
Vitalik Buterin, the founder and inventor of Ether, has expressed his support for Ukraine. In a recent post on Twitter, he used the term "Ukraine's victory".
Ukraine and donations
Ukraine is a hotbed of blockchain innovation. The country's acceptance of cryptocurrencies has made it one of the few places where you can legally trade bitcoin or other digital currencies without worrying about taxes, its low-cost currency exchange rate and the large number of talented engineers specializing in the security protocols associated with it; today's developments will be built here first.
Days after Russia's occupation of Ukraine, the country's official Twitter account asked for donations via cryptocurrency.
Ukrainian Deputy Prime Minister Mykhailo Fedorov confirmed that the appeal for donations is genuine. He asked people to "stand with Ukraine".
As the crisis in Ukraine continues to intensify, it is clear that Russia has invaded to establish a puppet government. Russian troops have entered Kiev, which puts the democratically elected government at risk. This could result in less freedom for its citizens than ever before.
Featured image from Pixabay, K-line chart from TradingView.com