Over $50 million in crypto already donated to Ukraine during Russia's invasion

Donations have come mostly in the form of Bitcoin, Ethereum, but have included other cryptocurrencies.

Over $50 million in crypto already donated to Ukraine during Russia's invasion

Elliptic, a blockchain analytics platform, has estimated that Ukraine's crypto crowdfunding effort has reached $50.9 million.

Elliptic wrote in a blog post that the Ukrainian government, as well as an NGO providing support to the military, have raised $50.9 million through donations of crypto assets since the Russian invasion began.

Upon announcing that it was now accepting crypto donations on its official Twitter account, the Ukrainian government's official account began promoting its crypto crowdfunding venture on February 26, 2022.

Interested donors were provided with a Bitcoin and Ethereum wallet address when the Ukrainian government first announced it was accepting crypto assets.

Blockchain records indicate that these addresses have each received $10 million and $16 million in Bitcoin and Ethereum, respectively.

The government also announced on March 1, 2022, that it would accept Polkadot donations. Gavin Wood, the founder of Polkadot, was later thanked for the "generous donation of $5 million as he had promised publicly."

Ukraine's official government Twitter account no longer posts updates on cryptocurrency donations, as that account now belongs to the Vice Prime Minister, Mykhailo Fedorov.

Fedorov announced on March 2, 2022, that the Ukrainian government now accepts Dogecoins.

According to his tweet, "even memes can support our army and prevent Russian invasions."

Fedorov praised both Solana's "massive support" and Everstake for setting up a joint initiative called Aid for Ukraine to raise funds for the country.

Additionally, Elliptic's blog post tracks the total amount of crypto donations coming from Come Back Alive, a nonprofit organization that was suspended from Patreon for "funding military activities."

Approximately "several million dollars" worth of crypto donations were received by the NGO, according to Elliptic.

In addition, Elliptic reports that UkraineDAO has auctioned an NFT of the Ukrainian flag for $6.5 million of Ethereum as part of its aid effort for the country. Elliptic said the proceeds will go to the NGO.