Ukrainian Volunteer Groups Receive Bitcoin Donations amid Tension with Russia

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The stress between Ukraine and Russia is getting intensified. To help the Ukrainian military with drones, medical provides, and army gear, volunteer teams and NGOs are receiving Bitcoin donations, on condition that Russia has marshalled at the very least 100,000 troops to the border. 

London-based blockchain evaluation supplier Elliptic report exhibits that these teams have acquired crypto donations price tons of of 1000’s of {dollars} to crowdfund conflict as stress with Russia escalates. 

Part of the funds is being transferred in direction of making a facial recognition utility meant to determine a Russian spy or mercenary. 

Despite Russia denying any plans to mount an assault, international powers are leaving no stone unturned as they search to avert an all-out conflict between the 2 nations. 

Over the previous decade, volunteer teams have been on the forefront of aiding Ukraine’s conflicts, as witnessed within the ouster of pro-Russia President Viktor Yanukovych in 2014. These teams obtain tens of millions of {dollars} from personal donors by way of fee apps and financial institution wires. Nevertheless, Bitcoin is rising as a vital various funding methodology. 

Per the report:

“Elliptic has identified several cryptocurrency wallets used by these volunteer groups and NGOs, which have collectively received funds totalling just over $570,000 – much of it over the past year. Here we examine some of these groups.”

Screenshot 2022-02-06 at 22.32.51

Source: Elliptic

On the opposite hand, Bitcoin donations have helped in noble causes, as not too long ago witnessed in Tonga following a devastating volcanic eruption. 

A BTC pockets arrange by Lord Fusitu’a, a crypto advocate and Tongan politician, had acquired at the very least $40,000 simply three days after going stay meant to assist in reduction efforts. 

Meanwhile, a bunch of Canadian truckers have switched their crowdfunding efforts to Bitcoin as their GoFundMe platform was shut down. Through the “Freedom Convoy 2022,” truckers protest vaccination measures. 

Image supply: Shutterstock

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