With the Russian invasion of Ukraine, the Ukrainian government started to collect donations via BTC, ETH and Tether. Later, the campaign continued with Polkadot by expanding the crypto coins that were accepted as donations. Now finally, Dogecoin has been added to this ring.
Ukraine's Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov used the following statements in his tweet today.
"@dogecoin exceeded Russian ruble in value. We start to accept donations in meme coin. Now even meme can support our army and save lives from Russian invaders. $DOGE owners of the world, @elonmusk, @BillyM2k, let's do it. Official $DOGE wallet: DS76K9uJJzQjCFvAbpPGtFerp1qkJoeLwL."
Fedorov's demands form only part of the crypto dynamic affecting the conflict between Russia and Ukraine.
After Russia invaded Ukraine last week, the international community responded with widespread and comprehensive economic sanctions against the Russian state, the Russian economy and government.
In response to this international backlash, which includes removing Russian banks from the SWIFT payment system, there is concern that Russia could use cryptocurrencies to evade sanctions.
Caroline Malcolm, Head of International Policy at blockchain analytics firm Chainalysis, said last week.
“Although Russia can leverage cryptocurrencies to evade sanctions imposed in response to its invasion of Ukraine, these cryptocurrencies are not too difficult to track down.”
Meanwhile, cryptocurrency donations have been pouring in to Ukraine since the Russian invasion began.
On February 26, 2022, the Ukrainian government's official Twitter account shared Bitcoin and Ethereum wallet addresses, announcing that it was "accepting crypto donations."
To date, over $20 million in cryptocurrencies have been sent to these addresses.
Ukraine's Deputy Prime Minister and Minister of Digital Transformation Mykhailo Fedorov has previously called on crypto exchanges to block Russian users. However, exchanges such as Binance and Kraken have announced that they will not comply with this call. Hillary Clinton described the decision by some crypto exchanges not to block Russian users as "disappointing".