The Vice Prime Minister and Minister of Digital Transformation of Ukraine, Mykhailo Fedorov, has revealed that the Ukrainian government is now accepting donations in the meme-inspired cryptocurrency Dogecoin ($DOGE) as it faces a Russian invasion.
In a tweet, Fedorov shared he said that the value of the meme-inspired cryptocurrency “exceeded [that of the] Russian ruble,” after the country’s fiat currency plunged more than 40% over economic sanctions imposed on Russia. What metric Fedorov was using to measure the value of both currencies isn’t clear.
Track live crypto price of 10000+ coins!
The minister added that now “even meme can support our army and save lives from Russia invaders,” and tagged prominent DOGE supporter Elon Musk in the tweet, along with the cryptocurrency’s co-founder Billy Markus.
As CryptoGlobe reported, the government of Ukraine started accepting cryptocurrency donations over the weekend, about three days after Russian President Vladimir Putin announced a “special military operation” against the country.
A tweet published by the official Twitter account of Ukraine revealed the embattled country was first accepting donations in the form of Bitcoin ($BTC), Ethereum ($ETH), and USDT. After its announcement, the founder of Polkadot ($DOT) Gavin Wood pledged to donate $5 million if it accepted the cryptocurrency as well.
Shortly after, Ukraine’s official Twitter account shared a DOT address, and a transaction from Wood for 298,367 DOT worth over $5.7 million came shortly after. Blockchain data shows that accepting DOGE has also been beneficial for the Ukrainian government, as around 280,000 DOGE have now been sent to the country’s wallet.
Leading decentralized exchange Uniswap ($UNI) has created an interface that allows users to easily swap ERC-20 tokens on the Ethereum blockchain and donate them to the Ukrainian government in one single transaction.
Uniswap detailed the address the Ukrainian government shared appears to be one for a centralized cryptocurrency exchange that “appears to accept only USDT and ETH.” To enable donations in other tokens, Uniswap’s interface was created.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Featured image via Unsplash.
Download MAXBIT Android App, Your best source of all crypto news!
Share this article: