Ukraine Asks for More Crypto Donations

As the war continues, a new rap video is urging the crypto community to continue supporting Ukraine.

“Invest in Peace, Bro” features a dove that thinks it feels good to support worthwhile causes — and is far more rewarding than plundering cryptocurrency into fine wines, alpaca farms or top-of-the-range Lamborghinis.

And while the lyrics emphasize Ukraine’s gratitude for all the help it has received so far, the message is simple: “We need some more.”

The video even features a cameo from Deputy Prime Minister Mykhalio Fedorov, who drops a few bars towards the end of the song.

A short version of “Invest in Peace, Bro” was played at the World Economic Forum in Davos on Tuesday — and it is rather amusing to see a sea of men in suits watching the surreal, retro video.

One of the biggest challenges Ukraine has faced is that the value of the Bitcoin it raised earlier this year has fallen rather substantially.

According to Reuters, $60 million raised as of March 19 had dwindled in value to $51.5 million just two months later — but on the bright side, a substantial chunk of this crypto was spent before the crash began to worsen.

Although a number of organizations that accept crypto automatically convert it into fiat, Ukraine has kept the contributions it has received firmly in Bitcoin.

It’s An Unfortunate Time

It’s unfortunate that Bitcoin’s current downturn has coincided with Ukraine’s time of need.

Last month, Finland announced that it plans to donate 1,890 BTC confiscated through drug crimes to the wartorn country.

While this was worth $75 million at the time, it’s slumped in value substantially over the past month — and the donation would fetch $56 million at current market rates.

Other efforts to raise funds for Ukraine are ongoing, including a “Museum of War” NFT collection. Digital art is being used to establish a day-by-day timeline of what happened on the ground.

And according to Reuters, an independent Ukraine beer brand is also selling NFTs for 0.1 ETH ($200), which can be traded in for a commemorative bottle once the war ends.

The news outlet notes that Kyiv has estimated it will need $15 billion in the next three months alone to help get the country’s economy back on its feet.