Ukraine has raised $ 225 million in cryptocurrency to fight Russian invaders

Since the start of Russia’s full-scale invasion last February, Ukraine has collected $ 225 million in cryptocurrency donations alone. This was revealed in a recent report by analytical company Crystal Blockchain.

This is only a small part of the billions of dollars in aid that Ukraine has received in fiat currency. However, experts note that cryptocurrency has helped our country purchase weapons, ammunition, medical equipment, and other items necessary for warfare.

Last year in June, the total amount of cryptocurrency donations to Ukraine amounted to about $ 135 million. However, at the end of 2022 and already this year, the monthly amount of donations has stagnated, not exceeding $ 10 million per month. A relative slowdown in crypto donations has been recorded since May last year.

March 2022 was the most fruitful month for crypto donations, as the war had just begun and global support for Ukraine in the fight against the Russian occupiers was the strongest.

Crystal’s data shows that humanitarian initiatives attract more donors than fundraising for the army. Thus, Ukrainian foundations have raised about $ 134 million in cryptocurrency for humanitarian needs, while military campaigns have raised $ 91 million. Most of the donations ($ 83 million) were received in USDT, slightly less in ether ($ 79 million). Donations in bitcoin amounted to $ 41 million, and the rest were made in Binance USD (BUSD), Polkadot (DOT), etc.

Analysts noted that the paramilitary units of the terrorist state also used cryptocurrency to receive material support from Russians and supporters abroad. However, the fundraising was almost always done clandestinely.