Crypto donations to Ukraine spike amidst the invasion

Crypto donations to Ukraine spike amidst the invasion

Russian invasion of Ukraine caused outrage across the globe, with millions of people taking it to the streets or social networks.

Crypto community did not stay aside.

According to Elliptic, crypto donations to the Ukrainian military have exceeded $4M so far. Come Back Alive is the most popular Bitcoin-accepting volunteer group that provides the Ukrainian Army with equipment and medical supplies.

The Kyiv Independent, an English-language independent journal, is also accepting Bitcoin donations.

Ukrainian crypto exchange Kuna has also set a crypto fund for charitable organizations.

Crypto charity app Endaoment has created a special Support Ukrainian Sovereignty fund, with the proceeds going to 7 humanitarian NGOs operating in Ukraine, but registered in the US (which allows American citizens get a tax break from their donations).

The Giving Block, probably most famous crypto donation solution, published a list of US-registered charities that are present in Ukraine.

In Ukraine, martial law is in effect, and the Central Bank capped hryvnia withdrawals and fixed the exchange rate to try and limit the fall of the national currency. Quite naturally, many Ukrainians turned to crypto: Kuna exchange’s trading volume has spiked x3 on February 24th comparing to the usual level.

Ukrainian people are brave, even facing such dangerous enemy as Russia. But they could really use money now, and crypto is a quick cross-border payment method that is proving itself in these hard times.