- Elliptic, a blockchain analysis company, reveals that the Ukrainian government and non-governmental organizations(NGOs) raised around $14.2 million in anonymous crypto donations.
- As stated previously by Elliptic, the Ukrainian NGO Come Back Alive received several million dollars in crypto donations. However, the NGO’s fundraising was suspended by Patreon due to policy violations.
- On Thursday, an Ethereum-based token project dubbed Help Ukraine($HUKR) was created. The new project has been donating Ethereum to a fundraiser called Support Ukrainian Sovereignty as per Elliptic.
The Russia- Ukraine crisis is in its full swing. The prayers and donations are pouring in from all over the world. On Sunday evening, the Ukrainian government even urged people worldwide for crypto donations in a tweet. The tweet further specified that the government accepts donations in Bitcoin, Ethereum and USDT. The government even mentioned the BTC, Ethereum, and USDT crypto addresses in the tweet.
A Ukrainian NGO Received $3 Million In A Single Bitcoin Donation.
According to a blockchain analysis company, Elliptic, the Ukrainian government and non-governmental organizations have together raised around $14.2 million in anonymous crypto donations. One NGO even received $3 million in a single bitcoin donation.
According to the live updates on donations, the addresses had already received $7.9 million across 11,494 transactions, states a blog report by Elliptic.
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Patreon Suspended An NGO’s Fundraising NGO Aimed To Support Ukrainian Soldiers
A single donation worth $1.86 million was among the donations that supposedly originated from the NFTs sales. Apparently, these NFTs were originally planned to be sold to raise funds for Julian Assange. A previous research paper by Elliptic states a Ukrainian NGO, Come Back Alive, that supported the military, raised funds worth several million dollars.
However, Patreon, a fundraising platform headquartered in the U.S., let groups and individuals do fund-raising, suspended the Come Back Alive’s fundraising as the NGO was collecting funds to support Ukrainian soldiers.
Elliptic further reveals that out of crypto donations received by the Ukrainian government, 54.8 percent of the donations are in Bitcoin, 33.4 percent were Ethereum, 10.8 percent stablecoins, and 1 percent other.
Besides, on Thursday, an Ethereum-based token project called Help Ukraine ($HUKR) was created. The project has been donating Ethereum to Support Ukrainian Sovereignty, a fundraiser that pledged to donate funds among various Ukrainian charities. Reportedly, it has raised around $281,769.
Crypto enthusiasts from around the world have come forward to help Ukraine in times of crisis. Justin Sun, Founder of Tron crypto, also shared through a tweet that he talked to the Ukraine embassy, and the embassy replied, “the information you have is correct!” So all the addresses have been verified! Let’s do it! Don’t miss this chance!”
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/2022/02/28/crypto-donations-pour-in-after-ukrainian-governments-plea-ngos-and-government-raised-14-2-million/