фото показано с : invezz.com

More than $4 million worth of crypto donations has been made towards a crowdfunding effort for the Ukraine military.

The donations started pouring into NGOs and volunteer groups following Russia’s invasion, and according to London-based blockchain analytics firm Elliptic, the amount of money put into these efforts has now jumped exponentially a day after the war started.

Data provided by Elliptic shows that more than $675,000 in Bitcoin (BTC) was donated on 24th February, hours after Russian forces attacked. On Friday, 25th February, over $3.4 million had been received by NGOs, with over $3 million (80 BTC) received from one donor.

The 300% spike in donations on Friday means the total has surpassed the $4 million mark.

According to a report on the crowdfunding effort, volunteer groups have turned to Bitcoin and other cryptocurrencies. Unlike bank wires and payment apps, crypto offers a “quick, cross-border” avenue through which to raise funds.

Crypto also helps bypass potential setbacks like funds being blocked by financial institutions, the report added.

The NGO Come Back Alive is reportedly using the funds to provide military equipment and medical supplies. It has also worked with Ukraine’s army by supporting training services and other aspects meant to help the cause against Russia’s invasion.

In other news related to the Ukraine situation, the CEO of cryptocurrency exchange FTX has said that the company gave each Ukrainian account holder $25. Although Sam Bank-man Fried did not reveal just how much the exchange used, the crypto community has lauded the gesture as a good start.

The post Over $4 Million in Crypto Crowdfunded for the Ukrainian Military: Elliptic appeared first on Invezz.

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