'

Crypto Donations are Flooding the Ukrainian Military, Says Latest Report

In a blog post by blockchain analytics firm Ellliptic, people across the world are making crypto donations to aid the Ukrainian army in their war against Russia.

The donations after the country of Ukraine and its President, Mykhailo Fedorov, urged the crypto community to donate and help Ukraine fight against Russian troops.

According to data collected over a 12-hour window on February 24, 2022 by the firm, nearly $400,000 in bitcoin was donated to Come Back Alive, a Ukrainian non-governmental organization providing support to the armed forces.

The latest round of donations adds up to donations totaling hundreds of thousands of dollars that have flooded into Ukrainian NGOs and volunteer groups working to stave off a Russian offensive.

______________________________________________________________________

SEE ALSOBitcoin Donations Are Among the Most Popular Payment Modes for Supporting The Nigerian #ENDSARS Campaign

______________________________________________________________________

Donations Have Picked Up Over the Past 10 Days

According to stats, the average amount donated is around $1,000 to $2,000, and the group has received at least 317 individual donations in the past 48 hours.

The crypto funds are reportedly being used for several purposes in aid of the military, which include:

  • Equipping the Ukrainian army with military equipment, medical supplies, and drones
  • Funding the development of a facial recognition app designed to identify if someone is a Russian mercenary or spy

The donations have just spiked in the past 24 hours but have been going on for a while.

NGOs and volunteer groups using crypto crowdfunding to help Ukraine’s war effort against Russia raised over $570,000 over the past year. The donations went toward the Ukrainian army, cyber activists, and other groups, according to an earlier report by Elliptic.

The crypto community has shown overwhelming support for Ukraine with key prominent players supporting the efforts via Twitter:

Crypto assets are demonstrating their potential by allowing quick, cross-border donations which bypass financial institutions that might be blocking payments to these groups.

The donations are expected to grow as the conflict escalates.

___________________________________________________________________

RECOMMENDED READING: Cryptocurrencies Within the Political Fold – Can Kenyan Politicians Legally Accept Crypto Campaign Donations?

___________________________________________________________________

Thank you for your support by helping us create content:

BTC address: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT

ERC20 Address: 0x03139524428e40E31f13909f8D994C915FB91277

SOL address: 9cC65AWFHj848kntcoyiT8av3jiRQEqyTTmBR1GvVUb

____________________________________________________________________

Follow us on Twitter for the latest posts and updates

Join and interact with our Telegram community

_____________________

Subscribe to our YouTube channel below for more updates:

____________________________________________________________________