On July 26, Alex Bornyakov, Ukraine’s Deputy Minister of Digital Transformation, reasserted his assist for cryptocurrencies on his Twitter account, saying they have been “important” for the nation’s struggle in opposition to Russia.
Bornyakov’s tweeted in response to nationwide media outlet The Kyiv Unbiased, which famous that regardless of the cryptocurrency crash, Ukraine continued to obtain crypto donations for the nation’s army and humanitarian assist.
As Cryptopotato beforehand reported, the nation began accepting crypto donations in early 2022.
Stand with the individuals of Ukraine
Now accepting cryptocurrency donations. Ethereum. Bitcoin and Tether (USDTtrc20)BTC — 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH — 0x165CD37b4C644C2921454429E7F9358d18A45e14
USDT (trc20) — TEFccmfQ38cZS1DTZVhsxKVDckA8Y6VfCy
— Mykhailo Fedorov (@FedorovMykhailo) February 26, 2022
This was a revolutionary transfer by way of geopolitics, however probably not a shocking for many who comply with the crypto ecosystem and know that the nation is on the highest checklist by way of crypto adoption.
Ukraine Acquired Over $100 Million From Totally different Crypto Initiatives
As of right this moment, simply the Ministry of Digital Transformation of Ukraine has raised over $60 million in donations by way of BTC, ETH, USDT, DOT, SOL, and USDC on the Help for Ukraine web site.
Moreover, the Ukrainian authorities has used non-fungible tokens (NFT) to lift much more cash for its army operations, creating the “Meta Historical past: Museum of Conflict,” a digital museum the place artists showcase the newest occasions of the Russia-Ukraine struggle. These moments are immortalized in NFTs that may be mined by the very best bidder.
So not like its rival Russia which not too long ago banned using cryptocurrencies for funds and money operations, Ukraine has legalized using cryptocurrencies ratifying its pro-crypto stance and counting over $100 Million in crypto donations by March of 2022.
Each “Crypto Winter” Leads To a “Crypto Spring.”
Bornyakov is an optimist. He stated that regardless of the “bear market” and the “crypto winter,” crypto donations have “actually the lives of troopers.” He additionally stated that “each “crypto winter” results in a “crypto spring.” Nonetheless, he avoided sharing any predictions or elaborating on his phrases.
He additionally shared a number of phrases for the rising Web3 business:
Regardless of the “bear market” crypto has grow to be an important software of Ukraine’s defence, offering flexibility and velocity that actually saved our troopers’ lives. Each “crypto winter” results in a “crypto spring”, however the business is right here to remain. https://t.co/Zhu93vso5T
— Alex Bornyakov (@abornyakov) July 26, 2022
The cryptocurrency market has misplaced greater than two-thirds of its market capitalization. In late 2021 it hit an all-time excessive of round $3 trillion. If Bornyakov is appropriate and the brand new crypto spring recovers the losses, the entire business must register a 3X development earlier than analysts begin speaking a couple of new all-time excessive.
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