- Donations to the BTC address listed on the organization’s website soared after Russia launched a full-scale military strike on Ukraine on Thursday. At the time of writing, the wallet address had received a total of 131.78144015 BTC.
- The donations collected since Feb. 24 are worth more than $5 million, depending on the current bitcoin price of $39,676.51 as reported by Bitcoin.com Markets. On February 23, the wallet received only 1.60976481 BTC (76 donations), while on February 22, it received only 0.42272864 BTC (25 donations).
- According to the firm, the NGO received over $675,000 in bitcoin on February 24 and had already received more than $3.4 million by 9:30 a.m. on February 25. This brings the amount the group has raised in just 24 hours to nearly $4 million, the firm noted, noting that a single donor gave over $3 million (80 BTC).
After Russia launched a major war against Ukraine, cryptocurrency donations poured into a nonprofit that aids the Ukrainian military. Bitcoin has already raised more than $5 million. The group’s Patreon fundraising page has been disabled in the meanwhile.
After Russia Invaded Ukraine, Cryptocurrency Donations Skyrocketed
After Russia launched a large-scale operation against Ukraine, Come Back Alive, one of the main non-governmental organizations (NGOs) offering support to Ukraine’s military, received over $5 million in bitcoin donations. The Kyiv-based company, which was created in 2014, offers Ukrainian soldiers military equipment, training, and medical supplies. Contributions to the BTC address listed on the group’s website increased after Russia launched a full-scale military attack on Ukraine on Thursday. At the time of writing, the wallet address had received 131.78144015 BTC.
From Feb. 24 to late According to a check of all payments to the address on Feb. 25, 2,207 contributions worth 126.04304091 BTC were received. The donations collected since Feb. 24 are worth more than $5 million, depending on the current bitcoin price of $39,676.51 as reported by Bitcoin.com Markets. On February 23, the wallet received only 1.60976481 BTC (76 donations), while on February 22, it received only 0.42272864 BTC (25 donations). Tom Robinson, the chief scientist, and co-founder of the blockchain analytics platform Elliptic tweeted on Thursday: Donations to the Ukrainian armed forces in cryptocurrency are on the rise.
Cryptocurrency is rapidly has been used to crowdfund war, with the tacit approval of governments, he said, according to CNBC. Elliptic investigated Come Back Alive’s donations as well. According to the firm, the NGO received over $675,000 in bitcoin on February 24 and had already received more than $3.4 million by 9:30 a.m. on February 25. This brings the amount the group has raised in just 24 hours to nearly $4 million, the firm noted, noting that a single donor gave over $3 million (80 BTC).
In 2018, the group Comes Back Alive began accepting bitcoin donations. According to Elliptic, BTC donations have been rising recently, with approximately $200K collected in the second half of 2021. The platform published a report earlier this month revealing that donations of digital assets to Ukrainian NGOs and volunteer groups increased by 900 percent last year.
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The Fundraising Page For Come Back Alive Has Been Removed From Patreon
Meanwhile, Come Back Alive’s Patreon fundraising page has been removed from the website. In an interview with CNBC, Come Back Alive Director Taras Chmut said the group had been receiving little amounts from their Patreon website for several months before receiving over $300,000 after Russia invaded Ukraine. When he went to withdraw the funds to pay for equipment, he discovered that his organization’s Patreon page had been taken down. He contacted the platform, which stated that it was investigating the matter.
Regardless of the cause, Patreon does not approve any campaigns that feature aggression or the purchasing of military weaponry, according to a spokeswoman for the platform. We have individuals dying because they don’t have body armor, Chmut said, adding that Ukraine is a poor country and that Come Back Alive has aided soldiers in getting the equipment they require.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/02/26/bitcoin-donations-are-flooding-in-to-support-ukraines-army-in-its-battle-against-russia-btc-has-raised-more-than-5-million/