The number of Bitcoins donated to the Ukrainian army skyrocketed

 Hundreds of thousands of dollars worth of Bitcoins have been donated to an organization dedicated


According to Elliptic, in total, organizations have raised more than a million dollars in cryptocurrencies and this number is still growing in the context of Russia launching its attack on Ukraine. Activists are expected to use the resulting cryptocurrency for a variety of purposes, such as equipping the Ukrainian army with military equipment, medical supplies, and drones.

One source said part of the money will fund the development of a facial recognition application with the aim of identifying Russian mercenaries or spies. “Cryptocurrencies are increasingly being used in crowdfunding,” commented Tom Robinson, chief scientist at Elliptic.

Before being attacked by Russia, Ukraine was a country with a fairly open policy on cryptocurrencies, even taking steps to adopt cryptocurrencies at the national level. Last week, the Ukrainian Parliament voted to pass an amendment bill, which legalizes Bitcoin and other cryptocurrencies.

"The new law is an opportunity to develop business in Ukraine. Cryptocurrency companies at home and abroad will be allowed to operate legally, people will have access to the global virtual asset market in a convenient and safe way. secure," Ukraine's Minister of Digital Transformation Mykhaylo Fedorov said on February 18.

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