Bitcoin users are donating millions to support Ukrainian defence

Feb 27 2022, 12:36 am

Worldwide efforts have now raised $11 million in crypto for Ukraine’s defence efforts against Russia.

It helped that one generous but anonymous donor gave $3 million in Bitcoin to Ukraine’s military equipment provider, Come Back Alive, on February 26.

But even before receiving the 80 BTC ($3 million), the organization was gifted $400,000 BTC in just 24 hours.

Come Back Alive provides military and medical equipment, drones, and training services to the Ukrainian army. 

By using cryptocurrency instead of e-transfer, cheque, or cash, international donors can bypass financial institutions that are blocking payments to certain groups.

Co-founder of Ethereum, Vitalik Buterin, also stands against Russia’s invasion of the Ukraine, calling Putin’s actions “a crime against the Ukrainian and Russian people.”

Digital asset donations supporting the Ukrainian military are growing, according to Chief Scientist of the blockchain analysis provider Elliptic, Tom Robinson.

“Cryptocurrency is increasingly being used to crowdfund war, with the tacit approval of governments,” he tweeted.

Robinson is posting updates on crypto donations to Ukraine on his Twitter page.

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