Ukrainian military organization received $400 000 in bitcoin donations in one day

The contributions to the “Come Back Alive” fund suddenly shot up on the day of the invasion

25.02.2022 - 11:15

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What’s new? According to Decrypt, donations to the Ukrainian military’s “Come Back Alive” fund suddenly shot up on the day Russia’s President Vladimir Putin announced a military operation. In one day, contributions amounted to more than $400 000 in bitcoins, with some 314 people financially supporting Ukraine. This money will go to help the country’s defense.

Decrypt’s material

What was the situation before the invasion? Elliptic, an analytics company, estimates that about $570 000 was raised in 2021 to support the Ukrainian military. In February, Ukraine passed a law to regulate cryptocurrencies, but the country’s Ministry of Defense noted it would only be able to accept fiat currency.

Elliptic’s report

How is the cryptocurrency charity trend evolving? The surge in cryptocurrency donations means that digital assets have become “an important alternative funding method, allowing international donors to bypass financial institutions that are blocking payments to these groups,” Elliptic said in a February report. The trend to accept donations in digital assets has emerged in recent years, with the Canadian Freedom Convoy protest sponsored similarly.

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