Ukraine Now Takes Polkadot – Ukraine is now accepting polkadot donations, after raising millions of dollars in major cryptocurrencies such as bitcoin. As it becomes more reliant on the crypto community to fund its defense against Russia, the country plans to broaden the list of acceptable coins.
In the midst of a continuous military attack by the Russian army, Ukrainians have given crypto users all over the world another way to help them. The Ukraine Twitter account posted a DOT address along with a statement inviting polkadot donations on Tuesday.
The message expresses gratitude for the monies provided by the global crypto community on behalf of the Ukrainian people. It also reveals that further cryptocurrency support will be added in the near future.
Gavin Wood, the co-founder of Ethereum and the creator of Polkadot, tweeted on Sunday that if Ukraine gave a DOT address, he would send $5 million in cryptocurrency.
He tweeted a transaction on Tuesday indicating the transfer of 298,367 DOT to his wallet, bringing the total amount deposited to nearly $5,8 million. The sum was just over $200,000 before his donation.
Ukraine had previously gathered roughly $40 million in major digital currencies like bitcoin (BTC), ether (ETH), and tether (a stablecoin) (USDT). Non-government organizations assisting the Ukrainian military, such as “Come Back Alive,” are among the recipients of the crypto assistance.
According to a report by the crypto news site Forklog, there have been requests for Ukraine to begin accepting other cryptocurrencies, including the privacy-focused monero (XMR). Justin Sun, the founder of Tron, vowed to donate $1 million if the Ukrainians post a TRX address in a tweet following the polkadot announcement.
While avidly pursuing cryptocurrencies to fund its defense and humanitarian activities, the Kyiv government has urged the crypto industry to block Russia’s entrance to the space.
Ukraine’s Deputy Prime Minister, Mykhailo Fedorov, requested that all major crypto exchanges block addresses belonging to Russian users on Sunday. Leading trading platforms such as Binance and Kraken, on the other hand, have so far refused.
Fedorov, who is also Ukraine’s digital transformation minister, had tweeted the day before that the local crypto community is eager to reward anyone who provide information regarding crypto wallets used by Russian and Belarusian politicians.
As Russia becomes increasingly isolated from the global financial system as a result of Western sanctions, including the expulsion of some Russian banks from SWIFT, fears have grown that Moscow may resort to cryptocurrencies as a means of evading the limitations.