What Is Ukraine Going to Do With All That Donated Cryptocurrency?

Ukraine’s official call for cryptocurrency was unprecedented.

All of this raises some important questions.

First, it’s critical to heed the warnings of those who cry “scammer” when it comes to any entity seeking crypto donations on Twitter, not to mention address the downsides of cryptocurrency donations. Vancouver-based Jagdeep Sidhu, chief technology officer at Blockchain Foundry Inc., did just that, noting to Slate via Twitter DM that donating crypto precludes the ability to write off donations when filing taxes, since donors are sending their funds to digital wallets, not a registered nonprofit.his reservations about sending crypto directly to the wallets Ukraine posted on Twitter, elaborating to Slate, “Centralized businesses are much more capable to determine accurate ways to donate.

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