Ukraine Vice Prime Minister Praises Uniswap for Its Charity Effort

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Ukraine Vice Prime Minister Praises Uniswap for Its Charity Effort -Mykhailo Fedorov, Ukraine’s Vice Prime Minister, lauded Uniswap’s “Donate to Ukraine” charity campaign and requested more funding. On March 2, Fedorov tweeted that the Ukrainian people were appreciative to the DEX for their campaign, which immediately converted their listed tokens to ETH.

He also requested that Uniswap post the campaign on their homepage so that the crypto community would be more aware of it, making it easier for them to help. The donation to Ukraine function is now available on the Uniswap homepage, and Uniswap agreed and implemented the adjustment within 24 hours.

Also Read: Russia May ‘Nationalize’ Foreign Assets in Response to Western Sanctions, Medvedev Says

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On March 1, Uniswap added a donate feature to its homepage. It allows users to exchange any token for ETH, which is subsequently sent in one transaction to the Ukrainian government. It’s part of a larger effort by the cryptocurrency community to assist Ukraine.

Hundreds of millions of dollars in cryptocurrency donations have already poured into Ukraine, with no signs of slowing down. Gavin Wood, the founder of Polkadot and several other companies, made a $5 million donation to the cause.

Since Russia’s invasion of Ukraine, the importance of cryptocurrencies has skyrocketed. Fedorov has requested that crypto platforms restrict Russian addresses, a request that has been granted by some crypto organizations. Binance, for example, has blocked sanctioned Russians’ accounts but not all Russians’ accounts.

Also Read: Bitcoin Donations Pour in to Help Ukrainian Military Fight Russia – Over $5 Million in BTC Raised

Meanwhile, Kraken CEO Jesse Powell has stated that the company would not do so unless it was required by law. Coinbase has also stated that Russian user accounts will not be blocked. Crypto firms have been chastised by Western officials for potentially providing a way out of the sanctions for Russians.

Since the conflict began, crypto activity in Ukraine and Russia has increased significantly. As the ruble falls in value, Russians are turning to cryptocurrency to protect their finances. However, how much of an impact it will have in Russia is unknown.

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