Key Takeaways
- A Kyiv-based charity has received $4 million in Bitcoin donations.
- The charity has used the funds to purchase armor bags and artillery for the defense of Kyiv, as well as thermal imaging devices and 25 helicopters.
- Several prominent figures in the crypto community have also launched UkraineDAO to help raise funds for Ukrainian civilians affected by the conflict.
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A Kyiv-based charity has raised over $4 million in Bitcoin donations to help the National Guard of Ukraine fight against the Russian invasion.
Crypto Fans Donate Bitcoin to Ukraine
Crypto donations are helping Ukrainians defend against the Russian invasion.
The Kyiv-based charity Come Back Alive has received Bitcoin donations totaling over $4 million since Russian forces launched an attack on Ukraine early Thursday morning. The nonprofit organization was founded in 2014 during the Russian annexation of Crimea. Since then, it has continued to raise funds to support the Ukrainian military in defending against Russian aggression.
Before the Russian invasion, Come Back Alive accepted donations via Patreon. However, a post on the charity’s Facebook page states that Patreon blocked the group’s page and froze more than $250,000 of donations just hours after the Russian attack began. Patreon explained that because Come Back Alive was using donations to finance and train military personnel it violated its terms of service agreement.
Come Back Alive currently accepts donations via the SWIFT payment system and Bitcoin. The organization’s Bitcoin wallet currently contains 110 Bitcoin worth over $4.2 million. Before the Russian invasion began on Feb 23, the wallet held 4.5 Bitcoin, worth approximately $171,000.
Come Back Alive has previously used donations to purchase bulletproof vests and armor, mobile surveillance vehicles, and train combat troops and unmanned aerial vehicle operators. A Friday Facebook post from the charity revealed that the latest contributions had been used to purchase armor bags and artillery for the defense of Kyiv, as well as thermal imaging devices and 25 helicopters. The update came as Russian troops closed in on the Ukrainian capital and airstrikes were heard across the city.
Since Russian President Vladimir Putin announced the country’s military strike on Ukraine early Thursday, many prominent members of the crypto community have condemned the attack and voices support for Ukraine. FTX CEO Sam Bankman-Fried tweeted Thursday that all Ukrainian users would receive $25 in their accounts to aid those fleeing the conflict.
Elsewhere, Nadya Tolokonnikova, a prominent critic of the Russian government and founder of the protest performance group Pussy Riot, launched UkraineDAO alongside Trippy Labs and members of PleasrDAO.
The DAO states its purpose is to “use the power of web3 tech and community to raise funds for Ukrainian civilian organizations that are helping people who are displaced and in danger.” The official Pussy Riot Twitter account has frequently retweeted posts from UkraineDAO, and has encouraged donations to several charitable organizations helping Ukrainian citizens, including Come Back Alive.
Disclosure: At the time of writing this piece, the author owned ETH, FTT, and several other cryptocurrencies.
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Source: https://cryptobriefing.com/ukraine-bitcoin-donations-top-4m-russia-conflict-intensifies/?utm_source=main_feed&utm_medium=rss