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The Ukrainian crypto crowdfunding effort has now reached $50.9 million, per figures published by blockchain analytics platform Elliptic.
“The Ukrainian government—and an NGO providing support to the military—have raised $50.9 million, through more than 89,000 crypto asset donations since the start of the Russian invasion,” Elliptic wrote in a blog post.
Ukraine’s crypto crowdfunding push began on February 26, 2022, when the Ukrainian government’s official Twitter account announced it was “now accepting cryptocurrency donations.”
When the Ukrainian government first announced it was accepting cryptocurrency donations, it shared a Bitcoin and Ethereum wallet address for interested donors.
Per blockchain records, those two addresses have now received $10 million and $16 million worth of Bitcoin and Ethereum, respectively.
On March 1, 2022, the government also announced it was accepting Polkadot donations. In a later tweet, the government thanked Gavin Wood, Polkadot founder, for the “generous donation of $5 million as promised publicly.”
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Since yesterday, official cryptocurrency donation updates have moved from Ukraine’s official government Twitter account to that of the Vice Prime Minister, Mykhailo Fedorov.
On March 2, 2022, Fedorov announced the Ukrainian government was also now accepting Dogecoin.
He tweeted that “now even meme can support our army and save lives from Russian invaders.”
Fedorov also praised the “massive support” Ukraine has received from Solana, and staking platform Everstake, which set up a joint initiative called Aid for Ukraine to raise funds.
Elliptic’s blog post has also tracked the total amount of crypto donations that have come from Come Back Alive, an NGO that was suspended from Patreon for “funding military activity.”
Per Elliptic, the NGO has received “several million dollars in crypto donations.”
Elliptic also reports that UkraineDAO, a decentralized autonomous organization set up in aid of Ukraine, has auctioned off an NFT of the Ukrainian flag for $6.5 million worth of Ethereum.
“The proceeds are to be donated to the NGO,” Elliptic said.
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