As the Russian invasion of Ukraine intensifies, cryptocurrency has continuously proven to be a saving grace for the war-torn country as adoption continues.
The United Nations High Commissioner for Refugees (UNHCR) has become the latest world organization to adopt cryptocurrency to generate funds for humanitarian aid for Ukrainians as it receives crypto donations for the first time.
$2.5 million in Binance USD (BUSD) stablecoin has been donated to UNHCR to help provide aid for refugees fleeing Ukraine.
The Executive Director and CEO of USA for UNHCR, Marie Grey, acknowledged the crypto community’s role in helping Ukraine.
“This generous support will make a life-changing difference for families forced to flee, and more importantly, it shows families that a caring and committed global community is stepping forward to help during their darkest times.”
In the last 24 hours, bitcoin has been down by 3.8%, with a current price of $44,051.54 as of the time of writing this. Within 24 hours, bitcoin experienced a $43,985.67 low and $46,138.50 high. The trading volume of bitcoin in the last 24 hours is $31,524,865,512. The current market capitalization of bitcoin is $838,266,809,939. Currently, $19.00M bitcoins are in circulation.
Stats and Image from Coin Gecko
The crypto community has raised about $100 million since the war began, proving the decentralized nature of cryptocurrency even as fiat is nonfunctional in the country.
Some notable donations include $5.8 million worth of native token DOT donated by the founder of the open source blockchain platform Polkadot Gavin Wood and $278k worth of Ethereum by the CEO of Chain.com Deepak Thapliyal, etc.