• The Ukrainian government has issued an appeal for donations in cryptocurrencies amid the Russian military invasion of the country.
  • So far, over $10 million has been donated to the government’s crypto addresses.
  • The Ukrainian government has opted for direct crypto donations after an NGO’s Patreon account was suspended. 

The Ukrainian government issued a direct appeal for cryptocurrency donations during the weekend, as the invasion by Russia’s military continues. A blockchain analysis company revealed that the Ukrainian government, along with non-governmental organizations and volunteer groups have raised the money by advertising their Bitcoin wallet addresses online.

Over $10 million in crypto raised for Ukraine

The Ukrainian government tweeted on Saturday that it is now accepting cryptocurrency donations in Bitcoin, Ethereum and USDT. According to the Ukrainian Digital Ministry, the call for donations is to help Ukraine's armed forces.

The official Twitter account of the Ukrainian government posted two addresses for accepting donations in digital assets, one that accepts only Bitcoin, and the other taking Ether and stablecoin Tether.

Over 4,000 donations in cryptocurrencies have been made so far, with an unknown donor gifting Bitcoin worth $3 million to an NGO. Over $3.5 million has been received in the government’s BTC address.

The Ethereum address has received over $5 million in ETH and $1.3 million in other crypto assets, including USDT.

So far, the Ukrainian government has rained over $10 million in cryptocurrency donations, according to blockchain analytics firm Elliptic. 

Around $1.86 million of the money dated to the government of Ukraine was generated through a sale of a non-fungible token (NFT) that was originally intended to raise funds for Julian Assange, the WikiLeaks founder.

According to OpenSea data, a number of NFTs have also been noted to the Ukrainian government.

According to Tom Robinson, chief scientist at Elliptic, cryptocurrencies such as Bitcoin have emerged as “an important alternative crowdfunding method.” The new asset class allows efficient cross-border donations, bypassing financial institutions that might block payments to these groups.

This comes at a time where Come Back Alive, an NGO that provides equipment to the military in Ukraine, which accepts crypto donations had its Patreon fundraising page suspended due that the campaign being “involved in violence or purchasing of military equipment.”


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Three Arrows Capital demands $1.5B increase in the FTX lawsuit

Three Arrows Capital demands $1.5B increase in the FTX lawsuit

Liquidators managing Three Arrows Capital's (3AC) bankruptcy have filed a motion to raise their claim against FTX from $120 million to $1.53 billion. Bloomberg reports that FTX allegedly liquidated and seized around $1.33 billion in assets from the hedge fund to settle debts just two weeks before 3AC’s collapse. 

More Cryptocurrencies News
Missing crypto influencer Kevin Mirshahi found dead in Montreal Park

Missing crypto influencer Kevin Mirshahi found dead in Montreal Park

Authorities report that the remains of Kevin Mirshahi, a prominent crypto influencer who was abducted in June, have been found in a Montreal park. Local police informed “The Gazette” that a passerby found the grim discovery on October 30 in Île-de-la-Visitation Park. 

More Cryptocurrencies News
XRP struggles near $0.7440, could still sustain rally after Robinhood listing

XRP struggles near $0.7440, could still sustain rally after Robinhood listing

Ripple's XRP open interest has declined by over 10% in the past 24 hours. Robinhood's listing of XRP could serve as a catalyst for renewed demand. XRP continues to struggle near historically strong resistance after sustaining another rejection at $0.7440.

More Ripple News
Dogecoin price forecast: Miners offload $240M as DOGE approaches risk zone

Dogecoin price forecast: Miners offload $240M as DOGE approaches risk zone

After reaching a three-year peak of $0.43 on November 12, Dogecoin price wobbled 13% to find support at the $0.38 level on Wednesday. Miners capitalized on Trump’s recent D.O.G.E confirmation statement to offload 620 million DOGE in the last three days.

More Dogecoin News
Bitcoin: Further upside likely after hitting new all-time high

Bitcoin: Further upside likely after hitting new all-time high

Bitcoin hit a fresh high of $76,849 on Thursday as crypto-friendly candidate Donald Trump won the US presidential election. Institutional demand returned with the highest single-day inflow on Thursday since the ETFs’ launch in January.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP