Ukraine government raises over $13.6 million in cryptocurrency donations since the start of Russia invasion
Nickie Louise
Posted On February 28, 2022
Support for the people of Ukraine continues to pour in as thousands of people from around the world made cryptocurrency donations to the Ukrainian government and non-government organizations (NGOs) providing support to the military.
As of the time of writing, the Ukrainian government and NGOs have raised a total of $20.9 million through more than 23,000 crypto asset donations since the start of the Russian invasion, according to research from blockchain analytics firm Elliptic.
One NGO received a single Bitcoin donation worth $3 million. As the war intensifies between the two countries, Ukraine has turned to an unlikely crowdfunding method to help it get through a brutal invasion from Russia.
“Cryptoassets such as Bitcoin have emerged as an important alternative crowdfunding method,” Tom Robinson, Elliptic’s chief scientist, wrote in a blog post on Sunday. “They allow quick, cross-border donations, which bypass financial institutions that might be blocking payments to these groups.”
About $1.86 million of the money donated to Ukraine’s government was generated through the sale of a non-fungible token, or NFT, originally intended to raise funds for WikiLeaks founder Julian Assange, Elliptic said.
According to Elliptic, about $1.86 million of the money donated to Ukraine’s government was generated through the sale of NFT, originally intended to raise funds for WikiLeaks founder Julian Assange, Another transaction provided a Bitcoin donation worth $1 million.
As we reported on Friday, Come Back Alive, a volunteer group that supports the Ukrainian Army, also raised $4 million in bitcoin since the Russian invasion started. Come Back Alive Foundation was founded in 2014. It is one of the largest charities in Ukraine.
The foundation primarily fundraises for Ukraine’s military, to aid soldiers and volunteers with supplies, including equipment (thermographic cameras and night vision devices), drones, personal body protection, and specialized software. As co-organizer of the Invictus Games in Ukraine since 2019, Come Back Alive also supports training, psychological assistance, medical help, and other projects.
On its Facebook page, Come Back Alive shares stories, photos, and videos of materials, helmets, medical supplies it had donated to the Ukraine Army. Come Back Alive also supports training, psychological assistance, medical help, and other projects.
You can support Come Back Alive by directly visiting their website at https://savelife.in.ua/donate/. Unless you can read the Ukrainian or Russian language, you first have to translate the page into English to know what button to click on.
