In the wake of the brutal attack on Ukraine’s democracy by the Russian Federation, beginning February 24, 2022, there has been a huge surge in online donations being sent to Ukrainian fundraising programs from around the world.
The amount of donations in crypto is notable, most likely the biggest crypto donations drive so far in history, and the tech-savviness of the Ukrainian government and their supporting teams has allowed for official crypto donation portals for the various currencies to be created almost immediately.
Crystal’s analysts are monitoring the cryptocurrency donation programs that have been launched in support of Ukraine – both by the government and other entities – noting that over $82 million in crypto donations have been collected so far as of March 10, 2022.
Compared with traditional finance donations – where, for example, UAH 6 billion+ so far had been transferred to a special account of Ukraine’s armed forces by March 2, 2022, we can see that tradfi fundraising still outways crypto fundraising by a long way.
According to their March 10 data, the majority of the crypto donations made so far (63%) have been targeted to support the Ukrainian army, with a lesser amount of donations (37%) having been made to humanitarian programs supporting the cause.
Within the crypto donation programs they looked at, they were also able to analyse the donations by currency, and as of March 10, 2022, more than half of the donations made so far have been in ETH (ether), with another large portion having been donated in BTC (bitcoin) and USDT (Tether).
Significant amounts have been donated in other currencies such as DOT (Polkadot), TRX (TRON), and BUSD (Binance USD).
Smaller donations were also made in USDC (USD Coin), WETH (wrapped ETH), LIT (Litentry), DAI (Dai), CAPS (Ternoa), DYP (DeFi Yield Protocol), OCEAN (Ocean Protocol), MAHA (MahaDAO), AKRO (Akropolis), and SHIB (Shiba Inu).
For a list of verified donation programs, click here.
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