Yesterday, Russia and Ukraine invaded and the world reacted with shock. Overall, Ukraine was left to its own devices, however it seems that the crypto community has been able to support the country financially. It is reported that several million dollars have already been made Bitcoin (BTC) It was donated to Ukrainian volunteer groups and NGOs.
according to Search by elliptic Large numbers of aid are being provided to Ukraine. NGO, a non Governmental Organization, reports indicate that on February 24, just hours after the invasion began, they had already received at least $675,000 in bitcoin donations. A day later, that amount had risen to at least $3.4 million.
Elliptic explains that this means that over $4 million in total has already been made Cryptocurrency It was donated to organizations in Ukraine. While this amount is clearly not enough to turn the tide, it does show that the crypto community is taking steps to help the country.
According to Elliptic, organizations to which large donations are made play a decisive role in the fight against the Russian occupier. Since 2014, these organizations have committed themselves to helping the Ukrainian armed forces in every possible way and helping wounded civilians, for example.
Crowdfunding for the war
in advance this month Elliptic also announced that the conflict in Ukraine is being funded by crypto donations.
“Cryptocurrencies are increasingly being used to finance mass wars, with the tacit approval of governments. […] Cryptocurrency is particularly suitable for international fundraising because it does not adhere to national borders and is resistant to censorship – no central authority can block transactions, for example in response to sanctions.”
It is said that Ukraine not only receives a lot of donations. The Russian camp also receives a lot of cryptocurrency donations. For this reason, donating cryptocurrency to two warring parties is a matter of concern by governments. Crowdfunding for war, of course, can cause major problems.
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