Ukraine-Russia war: Ukraine receives $70 million in crypto donations
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Loading... - Brielle Durand
- 11 Apr 2023
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On 24 February, a report from Chainalysis highlighted the crypto donations received by Ukraine to strengthen military equipment and other areas.
Since the beginning of the Ukraine-Russian war, the former has received over $70 million in crypto donations, as mentioned by the recent report of Chainalysis, a blockchain data platform on 24 February.
Cryptocurrencies donated to Ukraine wallets provided by the Ukrainian government.
Which cryptocurrencies contributed the most?
According to the report, Bitcoin and Ethereum made up the majority of funds, supporting the nation with funds for military equipment and humanitarian assistance.
ETH (Ethereum) donors contributed $28.9 million, followed by the support of BTC (Bitcoin) and Tether(USDT) with $22.8 million and $11.6 million, respectively, confirmed the report.
Non-fungible tokens (NFTs) have also been used as a kind of donation; one such NFT was sold by UkraineDAO at auction for $6.1 million.
Reaction of Ukrainian ministers
Mykhailo Fedorov, the vice prime minister of Ukraine and minister of digital transformation, said in an August tweet that a large portion of Bitcoin payments to the digital ministry were used to pay for the nation's military equipment, armour, various vehicles, and medical supplies. Read More…
