Bitcoin donations to Ukrainian groups surged by more than 900% in 2021 to support the ongoing fight against Russia.
A recent report from blockchain analytics company Elliptic revealed that Ukrainian volunteer groups and non-government organizations received more than $570,000 in Bitcoin donations throughout 2021.Interestingly, the total Bitcoin donations made to Ukrainian NGOs in 2021 represent a 900% increase from the previous year.
These volunteer groups emerged in 2014 to support protesters during the Maidan Revolution, which led to the removal of the pro-Russia President Viktor Yanukovych from power. Following Yanukovych’s ousting, Russia invaded and annexed the Crimean Peninsula from Ukraine, which led to a civil war. Since then, the two neighboring countries have been in a state of war, and the volunteer groups have been supporting the Ukrainian military by providing weapons and medical supplies.According to Elliptic, these organizations receive donations from private individuals and entities via fiat and cryptocurrencies.
Other volunteer groups like the Ukrainian Cyber Alliance and Cyber Partisans raised $100,000 and $84,000 respectively over the past year via crypto donations. Mirotvorets, another group with strong ties to the Ukrainian government and law enforcement agencies, has raised over $268,000 through Bitcoin donations since it launched, the report said.Meanwhile, donating cryptocurrencies to volunteer groups and charity organizations is not a new concept.via Bitcoin donations to support the fight against police brutality in the country.
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