Ukraine has received nearly $70 million in cryptocurrency donations since the start of the armed conflict with Russia, a report by blockchain intelligence company Chainalysis said. The report showed that ETH followed by Bitcoin and USDT was the most commonly donated cryptocurrency.
In the same period, pro-Russian groups received $5.4 billion in crypto donations, the Chainalysis report said.
The report, which includes data up to February 2023, shows that crypto donations to Ukraine were worth $28.9 million in Ether, $22.8 million in Bitcoin, and $11.6 million in Tether.
The largest donation during this period was 7,000 Ether, worth approximately $10.5 million at the time of the donation. The donations have been used to support a range of initiatives, including the purchase of medical equipment and supplies for hospitals and frontline workers.
The report also highlighted that the majority of the donations came from individuals and companies in the United States and Europe. However, there were also contributions from countries such as Australia, Japan, and Canada.
Cryptocurrency donations have been a valuable source of support for Ukraine during a challenging time. Ukrainian officials have expressed their gratitude for the generosity of the donors and emphasized the importance of international solidarity in the face of aggression from Russia.
