In the month after Russia invaded Ukraine, the latter has received over $100 million worth of cryptocurrency donations.
As the war in Ukraine unfolds, the international cryptocurrency community has raised millions in donations to support its people. At present, the number of tallied funds raised for the invaded nation tops $100 million.
Writing for Finbold Tuesday, Jordan Major noted:
“Ukraine continues to receive a substantial influx of cryptocurrency contributions, with the value now reaching over $100 million, as more well-wishers show solidarity in the face of the escalating Russian invasion.”
The total value of all known cryptocurrency donations to Ukraine is updated regularly at SlowMist. It’s a Chinese threat intelligence firm that keeps an online library of known malicious addresses, as well as address databases for other tabs holding, such as the effort to support Ukraine amid its current struggles.
Global Cryptocurrency Industry Embraces Ukraine in Peace Effort
As of Mar 31, the SlowMist database of charitable donations to the Ukrainian effort to sue for peace in peace talks held with Russian officials in Istanbul, Turkey, shows nearly $104 million (USD) worth of crypto raised for the cause.
Some of that money is going to defensive equipment, according to a Ukrainian official, as well as airdrops to artists and creators documenting the Russia-Ukraine war.
That effectively makes this war not only the first invasion of a sovereign nation by another in Europe since WWII but the first to be documented in near real-time in a fast-evolving “NFT museum.”
This showcases the power of cryptocurrency as a relevant disruptor or even how sovereign nations make war, turning to the battlefield of online media and information warfare to deter violent aggression and sue for peace.
In what was initially a defensive war against the aggression of the Russian Federation, Ukrainian forces have begun to fight back. Russia’s military invaded Ukraine in late February, with little resistance on the ground at first.
Bit for Bat. Tit for Tat?
But now, the Ukrainian military has taken the fight to Russia’s forces, who were evacuating citizens and placing two villages under a state of emergency as Ukrainian artillery began shelling in Zhuravlyovka and Niekhoteyevka, Fox News’ Michael Lee reported Tuesday.
In a possibly related development, Russia announced this week it will draw down military forces in two Ukrainian towns, Chernihiv and the capital Kyiv. Negotiators for both governments in Istanbul have described the talks as productive, though they have not produced any immediate truce or treaty between the two powers.
Bottom Line for Crypto Investors
The war in Ukraine has hastened the adoption by the former Soviet state, with Web3 applications built on blockchain and cryptocurrency platforms. BlackRock CEO Larry Fink is bullish on crypto adoption because of what is happening in Eastern Europe.
US News and World Report’s Paulina Likos outlined Tuesday how the war is accelerating the adoption of digital assets like Bitcoin (BTC) and Ethereum (ETH).
Ethereum co-founder Vitalik Buterin recently emphasized that supporting Ukraine does not take away from efforts to help others in war-torn regions elsewhere around the globe.
He also reminded followers that while he is not neutral, opposing Russia’s inRussia’snd use of force, Ethereum is and remains a neutral, politically agnostic tech platform.