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TICKER EXPLAINS: How crypto is giving Ukraine the funds to stand up to Russia

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Cryptocurrency analysts say at least $US9 million has now been donated to the Ukrainian war effort through anonymous Bitcoin donations.

Researchers at a blockchain analysis company say that the Ukrainian government, NGOs and volunteer groups have raised the money by advertising their bitcoin wallet addresses online.

More than 4,000 donations have been made to date, with the average donation $95.

One unknown donor gifted Bitcoin around $3m.

https://twitter.com/Unchainfund/status/1497380711288152067?s=20&t=h1mQ3hHP7tE41HLSEEdfNQ

On Thursday alone, one NGO received over $675,000 in bitcoin, and by Friday morning, that number had ballooned to more than $3.4 million thanks to that one-off $3 million donation.

The official Twitter account of the Ukrainian state called on users to “stand with the people of Ukraine” and said it was accepting donations in the form of Bitcoin, Ethereum and USDT cryptocurrencies. 

It also posted addresses for two cryptocurrency wallets and within four hours had raised more than $3.3m from donations.

Crypto during conflict

Cryptocurrency fund raising has become a modern part of war with cases also seen in other recent conflict zones around the world.

For years, volunteer groups have played a critical role in the Russia-Ukraine conflict. These organizations have augmented the work of Ukraine’s military by offering additional resources and manpower. 

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Crypto

LimeWire is back with a music-themed NFT collection

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Travis Barker and Aitch are among the big names set to launch a new NFT collection with LimeWire

LimeWire is rebranding itself to a music-based NFT hub, and a crypto marketplace.

The controversial file sharing service was ordered to shut down in 2010 after a court injunction was issued by the U.S. Federal Court.

Travis Barker and his Blink-182 bandmates are reportedly very excited by the news. He says he has always been interested in the world of NFTs, and is “stoked” to be releasing his first.

“LimeWire presents a new commercial opportunity for artists of all sizes and genres to engage with their fans, gain more exposure in a unique way and retain more of their earnings.”

LIMEWIRE

The peer-to-peer file sharing platform is giving music fans the chance to buy and trade a variety of collectibles, including limited edition releases and unreleased demos.

The company says it wants to bring “digital collectibles into the mainstream”.

New collections will be added in the coming weeks.

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The original Wolf of Wall Street weighs in on crypto

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‘The Wolf of Wall Street’, says crypto investors should saddle up for at least two years before making any money

Jordan Belfort believes the fundamentals of Bitcoin are really strong and is optimistic for the future.

The 59-year-old former stockbroker says crypto-investors can either bet on protocols with a long-term focus, or put a small amount into smaller projects.

He says there’s limited supply, and as inflation continues to rise, Bitcoin will begin to trade like a store of value.

Belfort has changed his tune from previously criticising the ‘get rich quick’ scheme behind cryptocurrencies.

“If you take a three or maybe five-year horizon, I would be shocked if you didn’t make money because the underlying fundamentals of bitcoin are really strong,” he told Yahoo Finance.

But he says you should still proceed with caution “that most of the time you will lose and be prepared to lose it all”.

Belfort inspired the 2013 film, ‘The Wolf of Wall Street’, which centres around his life in the fast lane after a Wall Street crash.

Bitcoin is hovering below USD $20,000, and is down over 10 per cent in the last week.

Meanwhile, Ethereum has taken a modest drop by around one per cent.

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British Army targeted by crypto scammers

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The British Army has fallen victim to hackers who were promoting crypto scams

The Twitter and YouTube profiles of the U.K.’s Armed Services were recently changed to resemble an NFT collection called ‘The Possessed’.

On the Army’s YouTube account, the hacker deleted all videos and replaced with them with old clips of Jack Dorsey and Elon Musk.

The official Twitter account of ‘The Possessed’ NFT warned users of the scam accounts, which showcase tokens that represent ownership of online content.

It is not yet known who was behind the hacking scandal. But the accounts have returned to their rightful owners.

“The Army takes information security extremely seriously and until their investigation is complete it would be inappropriate to comment further,” the Ministry of Defence says.

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