Crypto donations to support pro-Ukrainian groups have exceeded $4 million.
Bitcoin donations keep coming to support the Ukrainian army. According to data shared by blockchain analytics firm Elliptic, crypto donations raised since the Russian invasion of Ukraine have skyrocketed to more than $4 million. Donations were around $400,000 just 2 days ago. The platform reports that crypto donations are collected by NGOs and volunteer groups.
The reason why donations are made in crypto is, as is known, the fast and easy use of crypto assets and their ability to circumvent regulations. However, the reason why the fundraising event reached such a large amount in such a short time was because a donor sent 80 BTC worth 3 million dollars.
Similar to the Canadian truckers incident, Patreon, another crowdfunding site, was recently launched by a Ukrainian NGO. Banned Come Back Alive, which was the first, on the grounds that it was raising funds for weapons and military activities. It is speculated that this rapid rise in crypto donations, which started long before the war started, is related to this event.
Pro-Ukrainian groups also used other different methods. One of them was two Ukrainian students. Students posted a collection of NFTs on OpenSea, the largest NFT marketplace. All proceeds of the collection will be donated to Come Back Alive.
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