Non-government and volunteer organizations collecting funds to support Ukrainian forces have been accepting donations in cryptocurrency, a new report has unveiled. The findings have been published amid heightened tensions with Russia, which has been accused of amassing troops at the border with Ukraine.
Ukrainian Organizations Crowdfund Defense Effort With Crypto
Ukrainian NGOs and volunteer groups have raised several hundred thousand dollars in cryptocurrency, a study by blockchain analytics firm Elliptic has revealed. Donations made in digital assets have increased by 900% last year, the company’s researchers found.
Most of these groups were founded during the Maidan revolution in 2014 when they helped protesters. Since the annexation of Crimea by Russia, they have been supporting Ukraine’s war effort against pro-Russian forces in the eastern Donbas region by sending volunteers, weapons, and supplies.
In the past few years, the organizations have received millions of dollars in f
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