Cryptoassets continue to prove their case in Ukraine, as well over USD 100m in crypto was raised during the first five weeks of the Russian invasion.
Per a report by blockchain research firm TRM which analyzed over 50 crypto donation campaigns, official government entities have received over USD 50m of donations. Other popular non-governmental organization (NGO) campaigns have netted another USD 50m in donations.
Bitcoin (BTC) and ethereum (ETH) were the most popular cryptoassets and together facilitated over 85% of all transactions. Alternative networks like Tron (TRX), BNB, and Litecoin (LTC) have stayed distantly behind.
According to Alex Bornyakov, The Deputy Minister of Digital Transformation of Ukraine, cryptoassets have been “extremely useful” in the facilitation of funds in the country and have already purchased invaluable equipment for the Ukrainian Army.
In the recent episode of the Wolf of All Streets show, Bornyakov elaborated that cryptoassets were especially beneficial during the first days of the war when there was a lot of chaos in the country. “If you want to send a wire, and wire is going to get to your supplier in three days, you honestly don’t have three days, and maybe in three days you’re not going to live in this country anymore,” he said. In these circumstances, crypto is much faster, he added.
1. Aid For Ukraine
Aid For Ukraine is the official crypto fundraising initiative by the Ukrainian government. Powered by the country’s Ministry of Digital Transformation, the Kuna and FTX exchanges, as well as Everstake staking service platform, the page comes with a simple user interface that lets you donate in 14 crypto assets as seen in the image below.
Although not on the official page, the same Ethereum address, yet again, is also used to receive donations on other Ethereum-based fork networks that utilize the same ETH address system. These include donations via:
- BNB (ex Binance Smart Chain) and BNB-based tokens, including NFTs;
- Polygon (ex Matic Network) and MATIC-based tokens, including NFTs;
- Optimistic Ethereum and its tokens;
- Arbitrum and its tokens;
- Avalanche, AVAX-based tokens, and NFTs;
- Fantom, FTM-based tokens, and NFTs;
- Cronos (ex-Crypto.com Chain), CRO-based tokens, and NFTs;
- Huobi Token (HT), HT-based tokens, and NFTs.
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