Ukrainian crypto donations exceeds $50 Million

Ukraine has received a total of over $50 Million in crypto donations from both individuals and corporate bodies alike in the past one week of the Russian invasion.
Ukrainian crypto donations exceeds $50 Million

According to numbers supplied by blockchain analytics platform Elliptic, the Ukrainian crypto crowdfunding initiative has now reached $50.9 million.

“Since the beginning of the Russian assault, the Ukrainian government—and an NGO providing military support—have raised $50.9 million through over 89,000 crypto asset donations,” Elliptic noted in a blog post.

The Ukrainian government’s official Twitter account stated on February 26, 2022, that it was “now taking cryptocurrency donations,” kicking off the country’s crypto crowdfunding effort.

Cryptocurrency donations in Ukraine increases

The Ukrainian government provided a Bitcoin and Ethereum wallet address with interested contributors when it first announced it was collecting cryptocurrency donations.

Those two addresses have now received $10 million and $16 million in Bitcoin and Ethereum, according to blockchain data.

The administration also stated that it would accept Polkadot donations on March 1, 2022. The government then congratulated Polkadot creator Gavin Wood for the “kind donation of $5 million as promised publicly” in a tweet.

Official bitcoin contribution updates have been moved from Ukraine’s official government Twitter account to Vice Prime Minister Mykhailo Fedorov’s account since yesterday.

Fedorov said on March 2, 2022, that the Ukrainian government was now accepting Dogecoin as well.

“Now even meme can support our army and rescue lives from Russian invaders,” he tweeted.

Fedorov also applauded Solana’s “huge support” for Ukraine, as well as the staking platform Everstake, which launched a collaborative fundraising drive dubbed Aid for Ukraine.

Crypto donations among Ukrainian NGOs also increase

The exact amount of crypto donations received by Come Back Alive, an NGO that was suspended from Patreon for “supporting military operations,” was also tracked in Elliptic’s blog post.

The NGO has received “several million dollars in crypto donations,” according to Elliptic.

Elliptic also reports that UkraineDAO, a decentralized autonomous organization established to aid Ukraine, has auctioned off an NFT of the Ukrainian flag for $6.5 million in Ethereum.

Elliptic explained, “The earnings will be donated to the NGO.”