With the country at war, the Russian population is donating cryptocurrencies to Ukraine

At war with Russia, Ukraine quickly leveraged the full speed of cryptocurrencies to receive donations and then buy military supplies and other items to fight its neighbor.

Speaking to Yahoo Finance this Thursday (2), Alex Bornyakov, Deputy Minister of Digital Transformation of Ukraine, said that now even Russians are sending cryptocurrencies to them. In short, this would be a form of protest against the actions of Vladimir Putin, President of Russia.

In February, the war will last a year, with no major Russian advance into Ukrainian land. Therefore, for the first time, cryptocurrencies can play a key role in an armed conflict.

In war, Russians donate money to Ukraine

As of March 2022, Ukraine had already received more than BRL 250 million worth of cryptocurrencies from various countries. The Bitcoin address alone contains more than 19,580 transactions and today the entries indicate that the country has already received 646 BTC (R$78 million).

Speaking to Yahoo, Alex Bornyakov, Deputy Minister of Digital Transformation of Ukraine, said donations come in different amounts. More surprisingly, he even claimed that some of them are from Russians, who are not satisfied with their governors.

“Donations for Ukraine ranged from one dollar to millions of dollars”noted Bornyakov. “Cryptocurrencies offer an anonymous way to transfer money in certain cases.”

“We saw that some Russians donated a significant amount to us. The Russian people who donated sent significant amounts.”

Due to the pseudo-anonymity of cryptocurrencies, it is difficult to confirm the veracity of the Deputy Minister’s information. After all, Bornyakov may be saying this to provoke his enemy.

However, the values ​​received can be verified by anyone through block explorers. According to Bornyakov, Ukraine has already received “Approximately 650 BTC, over 10,000 ETH, a significant amount of DOT, nearly 1.8 million [de dólares] in SOL and US$2.8 million in USDC.”

Russian rulers have yet to decide how to approach cryptocurrencies

Finally, Russia remains at a loss when it comes to cryptocurrencies. With the country abandoned by several companies after sanctions from other countries, Russia has even tried to get closer to Bitcoin to avoid monetary sanctions.

However, their efforts have not been as successful as the donations received by Ukraine, especially with regard to the armed conflict.

Either way, it’s interesting to see both countries exploring how cryptocurrencies can benefit them. The sad side is that the awakening of this curiosity was anticipated by a war and not by nobler motives.

Source: Live Coins