RIYADH: Whitepay, a fundraising platform that seeks to assist Ukrainian civilians and the country’s military forces, said it had raised $2 million of the stablecoin Tether, known as USDT.
Some of the donated crypto assets have been sent to the Ukrainian military and to a humanitarian fund that finances volunteers.
Others have been transferred to the Ukrainian Army to cater to its medical needs. A portion of the assets has gone to the humanitarian fund that finances the volunteers, according to a tweet posted by the fund.
The announcement by Whitepay, which was founded by the Estonian crypto exchange Whitebit and Ukrainian fintech and crypto entrepreneur Gleb Udovychenko, came as reports said Ukraine had received cryptocurrency valued at $50 million in just one week, Bitcoin.com reported.
Daily trading
Bitcoin, the leading cryptocurrency internationally, traded higher on Tuesday, rising by 1.60 percent to $39,005 at 3:00 p.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $2,587, down by 1.75 percent, according to data from Coindesk.
Other news
President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded, AP reported.
Apple co-founder Steve Wozniak says Bitcoin is “the only one that’s pure-gold mathematics”, and he is skeptical of most other cryptocurrencies.
“There’s so many cryptocurrencies that come out now. Everybody has a way to create a new one, and you have a celebrity star with it. It seems like they’re just collecting a bunch of money from people who want to invest at the very earliest stage, when it’s worth pennies,” Wozniak said in an interview with the Insider.
While he is a fan of the metaverse, Wozniak is less enthusiastic about non-fungible tokens and cryptocurrencies, according to Bitcoin.com.
Wozniak said they are “so up in the air,” stressing they have a track record of thefts.
