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UKRAINE: Ukraine has garnered over $35 Million in Crypto Donations through Several Organizations!!!

UKRAINE: Ukraine has garnered over $35 Million in Crypto Donations through Several Organizations!!!

Ukraine has requested assistance from the crypto community on February 26 in the face of Russian military threats across the nation. Since then, it has received more over $35 million in cryptocurrency donations to help its people and military. The Ukrainian government initially accepted Bitcoin, Ether, and Tether contributions (USDT). Polkadot was added to the list on March 1. Most donations thus far have been in Bitcoin and Ether, according to Tom Robinson of Elliptic, a startup that records cryptocurrency transactions, while a few people have also donated non-fungible tokens (NFTs) to the Ukrainian government's Ethereum account.

Ukraine has received 35,000 donations so far, according to Elliptic, including $5.8 million from Gavin Wood, the British programmer who co-founded Ethereum. There have also been many more $1 million gifts, according to the business. Elliptic, which also assists law enforcement in tracking bitcoin transactions in order to prevent money laundering, warns of criminals duping naïve cryptocurrency holders into donating to Ukrainian causes.

While details on how Ukraine's government has used monies raised through crypto donations aren't yet available, Michael Chobanian, the operator of Kyiv-based crypto exchange Kuna, looks to be a prominent role in the fundraising campaign so far. Chobanian has aided in the establishment of two charitable funds to benefit Ukraine's military effort and those impacted by the conflict. The Ukrainian Crypto Fund was established two days ago and has mostly been used to purchase food, gas, medical supplies, and weaponry for civilians, as well as to assist in the evacuation of individuals.

The army is funded by the second wallet, which is controlled by Ukraine's Ministry of Digital Transformation. Meanwhile, Chobanian's exchange site Kuna is supporting the government in converting crypto to fiat money, claiming that "the government doesn't know how to properly manage the crypto." Other organizations, such as charity initiatives and decentralised autonomous organisations (DAOs) for more focused activities, have also contributed to Ukraine's crypto contribution causes. UkraineDAO was founded earlier this week by Nadya Tolokonnikova, a founding member of the "conceptual protest art group" Pussy Riot, together with Trippy Labs and members of PleasrDAO, to raise cash for Ukraine.

Support Ukrainian Sovereignty claims to have raised over $500,000 to far, while Elliptic reports that NGO Come Back Alive, which was blocked by Patreon for "supporting military activities," has received "several million dollars" in crypto.

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