Ukraine Is Raising Millions In Crypto during War with Russia. Hey guys welcome back to Global NFT the hottest topic is under discussion today.
Bitcoin and crypto is up because over the last couple days. There has been very bullish news in the crypto and NFT space. I am going to catch you guys up. Let’s get to it the first piece of news that we’re going to cover is what’s going on with Russia and Ukraine. So, as many of us know last week when Russia invaded Ukraine all markets tanked stocks were down. If it is down crypto was down as well. Good here is now crypto is picking back up because some incredible things are happening right now with cryptocurrency.
Ukraine Is Raising Millions In Crypto vs Russia
Ukraine Is Raising Millions In Crypto to defend themselves through Patreon, but Patreon shut down the campaign. So, what did Ukraine do they turned to bitcoin just like Canada. Here Canada turned to bitcoin when GoFundMe froze the account for money raised for the truckers. So, in this case so far Ukraine was able to raise with cryptocurrency 37 million dollars in track crypto donations so far and it’s not just bitcoin it is other coins as well including Ethereum, Tether and other coins. Ukraine put out a tweet and Gavin wood the founder of polka dot replied. “If you post a dot address, I’ll personally contribute 5 million.” Shortly after Gavin wood donated 5.8 million dollars it’s incredible the way we can communicate.
CEO FTX help Ukrainian Raising Millions In Crypto
Now today with crypto and how fast we can send funds without any gatekeepers. Sam Banksmen freed the CEO of FTX deposited 25 to each Ukrainian on FTX. We’re also seeing some incredible things in the NFT space as well it’s not just bitcoin. It’s not just all coins it’s NFTs as well Andrew Wang who is very big on NFT. The twitter put out a tweet and he asked how we can help and 32 hours after he sent out this tweet. “He had an NFT project”. When they minted, they raised over 1 million dollars in 30 seconds which was sent to the people of Ukraine.
So, we are seeing Ukraine Is Raising Millions In Crypto. This shows real time the power of not just bitcoin but cryptocurrency and blockchain technology. We know when it comes to crypto and blockchain anyone can use it. There are good people but that also includes evil people for evil purposes and because of what’s going on right now with crypto and bitcoin. Everyone’s all bullish on what it can be used for what purposes.
Russia strategy for NFT and Crypto
There’s also those criticizing it because Russia may use bitcoin to evade sanctions. Now this is what everyone is looking now especially the media outlets. They’re saying hey you know bitcoin crypto it’s all cool and everything but isn’t Russia just going to use bitcoin and they just might in the future. While at this moment we are not exactly sure especially for the amount that they would need to use.
Crypto will not save Russia from sanctions according to crypto experts. The reason why they are saying this is because the amount that would be needed for Russia to evade sanctions. They would need to replace hundreds of billions of dollars. Russia or really any evil actor can use bitcoin at a smaller scale but to replace hundreds of billions of dollars very difficult quote. It is very difficult to move large amounts of crypto and convert it to usable currency. Russia cannot use crypto to replace the hundreds of billions of dollars that could be potentially blocked or frozen.
KPMG – Bought woman NFT
Now moving over to some NFT news so KPMG which is one of the big four auditing firms in the world. Added bitcoin and Ethereum to their treasury back in February. February 8th the story came out fast forward to February 28th and KPMG bought a world of woman NFT and they added it to their balance sheet.
This is very shocking to see especially from a company such as KPMG. The one of the top four accounting firms in the world or maybe even number one. So, whether they’re doing this as a publicity stunt or whether they really believe in holding this on their balance sheet. I’m for either one right I think this is incredible news to see a big company buying in NFT and putting it on their balance sheet. Also I’m not sure how they came to choose world of women NFT.
AMC & eBay accepting Crypto
Now moving over to some other more fun crypto news. AMC has announced that they are going to accept dogecoin and Shiba lnu for payment. So, this is very good fun news for people that are fan of doge and shiva. Then also eBay recently stated that they will accept crypto as well. This news about companies accepting crypto it’s always exciting. It causes us to wonder and let us ask ourselves how it is going to spend their valuable crypto more specifically something like bitcoin. If you have a hundred dollars’ worth of bitcoin and then having a hundred fiat dollars. So, use either one to pay for something we personally would rather give away my fiat dollars and hold on to the crypto. This is due to what is known as Gresham’s law this is a very important concept in finance that surprisingly not many people understand.
This brings us to the end of our discussion. Hope you enjoyed it hit comment if you did. While don’t forget to revisit to our website so that you don’t miss any of NFT news in the future. Also check previous article that are available to our website because I’m sure you’ll love them.