Bitcoin Donations Pour in to Support the Ukrainian Army

Bitcoin (BTC) donations to Ukrainian armed forces have soared following Russia launching a full-scale invasion of Ukraine. Ukrainian Army Receives Over $900,000 in Bitcoin Donations According to data from U.K.-based blockchain analytics firm Elliptic, over 24 BTC worth more than $900,000 have been donated so far on Friday to Come Back Alive, one of the largest organizations supporting the Ukrainian army. The surge of crypto donations signifies that digital assets have ’emerged as an important alternative funding method, allowing international donors to bypass financial institutions that are blocking payments to these groups,’ according to Elliptic. The crypto donations were deployed for a variety of purposes including equipping the Ukrainian army with military equipment, medical supplies, and drones. Additional purpose includes funding the development of a facial recognition app designed to identify if someone is a Russian mercenary or spy. Crypto Community to the Rescue Crypto users rushed to a Twitter post after the official account of Ukraine asked for donations to its army, and instead urged the ministry to set up a crypto wallet. However, as of yet, none has been set up so far. Where can I donate with crypto???? — PlsXLifeHolder (@BiggieWhale) February 24, 2022 Other than that, numerous pro-crypto communities on social media platforms have taken up to setting independent crypto fundraising initiatives. Just today a blockc...