Ukraine accepts Dogecoin as a Crypto Donation

Ukraine accepts Dogecoin as a Crypto Donation

The ongoing political tussle between Russia and Ukraine has given a major blow to the global economic, financial, and social sphere. Where Vladimir Putin-led Russian military force is invading Ukrainian territory, the latter is fighting back strongly to preserve its independence. The dire conditions have created economic turbulence in Ukraine and to solve this the government is resorting to seeking donations from people across the world in fiat as well as for cryptocurrencies like DOGE coin.

According to the newest development here, Ukraine has started accepting donations in popular meme coin DOGE to ease the payment settlement process for the involved parties. As crypto gained momentum in recent years, accepting donations and charities in crypto has become a common trend amongst organizations and related firms. Amid the Russian intrusion, people from all over the world have come out in support of the Ukrainian citizens and have donated a substantial amount of money to fuel the rescue operations within the country.



The news was made public by Mykhailo Fedorov, the Vice Prime Minister and Minister of Digital Transformation of Ukraine via an official tweet. The post mentioned that the value of Dogecoin surpassed the value of the Russian Ruble. The currency’s market worth dropped by more than 40% over the economic sanctions inflicted on Russia. Fedorov mocked the crisis saying that now even a meme can support the army and save the lives of people from Russian forces. He tagged Tesla chief Elon Musk, who has been an ardent supporter of DOGE, and the token’s co-founder Billy Markus in his post.

The government authorities in Ukraine started accepting crypto donations over the weekend, after three days of the announcement of military invasion by Russian President Vladimir Putin. The country initiated accepting donations in Bitcoin, Ether, and USDT in its first phase. The founder of Polkadot Gavin Wood stated that his firm would donate $5 million if Ukraine gives a nod for the coin. The spearhead donated $5.7M to the country. The report suggests that nearly 280,000 DOGE have been transferred to the country’s official wallet address by people.



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