- This follows from the Chainalysis report
- The lion’s share of donations was ETH
- Cryptodonates allowed to accelerate the purchase of vital goods
Last Thursday, February 24, the Chainalysis portal published report on cryptodonates Ukraine. According to him, over the past year, our country received $70 million, and most of the funds went to ETH.
This cryptocurrency accounts for a share of $28.9 million. BTC ($22.8 million) is in second place, USDT is in third ($11.5 million):
Moreover, about 80% of this amount was received in the first months of the war. This made it possible to speed up the purchase of necessary goods and simplify mutual settlements.
“If we had used the traditional system, the process would have dragged on for days. We were able to purchase everything we needed in a short time only thanks to cryptocurrency. I didn’t expect that more than half of the suppliers would agree to conduct mutual settlements in crypto,” Deputy Minister of Digital Technologies of Ukraine Alex Bornyakov.
Donations from the crypto community went to the purchase of medicines, equipment, vehicles and military equipment. The use of digital assets also made it possible to circumvent a number of restrictions of the banking system.
However, “crypto” was used not only in Ukraine. Over the past year, the volume of revenues in Central Asia for military groups in the Russian Federation also increased:
Over the past 12 months, such organizations have received a total of $5.4 million. This money has been used to spread disinformation, propaganda and support the army. Since July last year, revenues have almost halved, which can be easily explained by sanctions.
Note that earlier we wrote about how “crypto” helps in Ukraine. In this material you will find a list of existing foundations and other charitable initiatives, as well as where this money was spent.