Vice Prime Minister Mykhailo Fedorov has recently asked Elon Musk as well as Billy Markus for Dogecoin assistance.
Ukraine’s Vice Prime Minister, Mykhailo Fedorov, said today that perhaps the government will start collecting Dogecoin donations. Dogecoin is a cryptocurrency that began as a meme and has now gained traction thanks to Tesla CEO Elon Musk.
Since the beginning of the Russian attack, the Ukrainian administration has collected $35 million by over 35,000 crypto asset contributions. As per Elliptic, a blockchain analytics firm, this is the case.
Fedorov Mentioned Billy Markus and Elon Musk
On Wednesday, Ukraine’s Vice Prime Minister and Minister of Digital Transformation, Mykhailo Fedorov, stated that Dogecoin has surpassed the valuation of Russian rubles. They’ve started accepting donations in meme coin, as per the Tweeter. Even meme pennies nowadays can help their military to fight Russian invaders and to save lives.
Fedorov enlisted the help of Dogecoin founder Billy Markus to help raise funds. Markus responded to the post by voicing his dissatisfaction with the choice. He even stated that demanding Dogecoin from Ukraine was not even on his 2022 bingo card.
Elon Musk, the inventor of Tesla and a supporter of Dogecoin, was also mentioned in Fedorov’s tweet. Musk, on the other hand, has still yet to reply. Fedorov’s address has already earned well over 430,000 DOGE, which is worth $57,600. Fedorov’s tweet refers to the reality that the Russian currency has lost around 30% of its value in the last several weeks.
While bitcoin contributions are helping Ukraine’s resistance effort, the government has also generated funds through war bonds. This has generated around 8.14 billion Ukrainian hryvnias.
The conflict involving Russia and Ukraine has made cryptocurrencies a significant role. There has also been talking that Russians may utilize cryptocurrency to move their wealth outside the country. This is in order to avoid penalties; however, analysts think that this is unlikely.
Ukraine also Accepts Other Cryptos
Since February 26, Ukraine has accepted cryptocurrency donations in the form of Bitcoin, Ethereum, and USDT. According to the most recent calculations, the total amount raised via cryptocurrencies was $35 million. Ukraine has also stated that individuals who have given cryptocurrencies would receive a prize through an airdrop.
Since that day, the nation’s interest in cryptocurrency has risen. Ukraine requested Polkadot campaign donations on Tuesday. As a result, Polkadot founder Gavin Wood gave the government $5 million in DOT. The state has also backed an online fundraising initiative led by Solana.
Non-fungible tokens, or NFTs, are also accepted as contributions in Ukraine. These are one-of-a-kind commodities. This also includes a piece of digital artwork that is verified and tracked that uses blockchain technology.
Similarly, Uniswap, a cryptocurrency exchange, has developed a feature that enables users to exchange any Ethereum-based digital money into the ether. After the process, they can then transfer this to the Ukrainian state.
As per Fedorov, Gavin Wood, the co-founder of the Polkadot blockchain network, allegedly donated more or less $5 million worth of the DOT cryptocurrency to the Ukrainian government.
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