Earlier today, the Russian military went on the offensive against Ukraine in the biggest European attack since World War Two. Currently, people are sending Bitcoin (BTC) to fund the Ukrainian military. A report from explorer Bitcoin.com depicts that the contributions towards the Ukrainian Military exceed 19 BTC.
Global BTC Donations Towards Ukrainian Military Increases Amid Russian InvasionFollowing today’s major invasion of Russia in Ukraine, people have been rallying to send BTC donations to the Ukrainian military. According to data from explorer Bitcoin.com, a given BTC wallet belonging to an organization funding Ukraine has received over 19 BTC. Crypto exchange platform FTX has also gifted every Ukrainian on the platform $25. Another data site Elliptic shows that a Ukrainian NGO ‘Come Back Alive’ has received over $400K worth of BTC in just 12 hours. The NGO is aiding the Ukrainian military in defense against Russian troops.
“Cryptocurrency is increasingly being used to crowdfund war, with the tacit approval of governments,” noted Tom Robinson, chief scientist at Elliptic.Earlier on, Ukraine’s defense ministry posted a tweet asking well-wishers to donate towards their cause. However, they declined crypto donations as its new legislation prohibits it. Consequentially, people flocked to Twitter, asking the ministry to compromise and accept crypto donations. Since then, no wallet has been set up or official information regarding the acceptance of crypto donations by the ministry. Another BTC wallet set up by Ukrainian English language news firm Kyiv Independent has received donations worth over $6K in BTC. The donations towards the news publishers will aid them in reporting live from the attack scenes.