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

Published

2 years ago

February 27, 2022

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.

Very concerned with what's happening in Ukraine right now, and doing everything I can to support them during these difficult times.

I've just donated $10,000 to The Ukrainian Red Cross to assist victims of this war. I encourage everyone reading this to also help out if they can. pic.twitter.com/JdCiiHvtaj
— Mr. Whale (@CryptoWhale) February 25, 2022

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.

News

Technological terror: China reveals uncanny AI romance film

Published

1 day ago

April 24, 2024

ticker NEWS

As competition intensifies in the streaming landscape, with players like Roku, Vizio, and Samsung launching their ad-supported platforms, TCL aims to carve its niche by offering compelling original content.

TCL, the renowned Chinese smart-TV manufacturer, announces its innovative use of generative artificial intelligence to produce original content for its streaming platform, TCLtvPlus.

Debuting this summer, “Next Stop Paris,” an AI-driven love story, marks the inaugural program from TCLtvPlus Studios

News

Grindr application cruises into court over privacy concerns

Published

1 day ago

April 24, 2024

ticker NEWS

Grindr faces lawsuit over alleged privacy breaches

Grindr, the popular gay dating app, is under fire in London as hundreds of users claim their private information, including HIV status, was shared without consent. The lawsuit alleges commercial use of sensitive data, sparking concern within the LGBTQ+ community. Grindr vows to defend its practices while emphasising its commitment to user privacy and compliance with data regulations.

News

The TikTok ban was just passed by the House. What could happen next?

Published

2 days ago

April 24, 2024

ticker NEWS

Washington D.C. has been under pressure to ban the popular Chinese-owned social media app TikTok.

TikTok users could soon find that the popular social media service is either under new ownership or could be outright banned in the U.S.

Calls are growing louder from many lawmakers and national security hawks to ban TikTok, over fears the app could censure content, influence users, and give Americans’ personal data to Beijing.

But the Chinese tech company, ByteDance—which owns TikTok— denies the allegations.

Dave Levinthal, the Editor-in-Chief of Raw Story joins Veronica Dudo to discuss.