UkraineDAO has been a leading crypto contributor which has raised US$50 million in crypto donations to Ukraine
Donations in cryptocurrencies like Bitcoin and Ethereum are pouring into Ukraine as the war with Russia enters its second week. More than US$9.9 million in cryptocurrency has been donated to Ukrainian groups since Russia attacked the country on February 24th, according to research firm Elliptic. Decentralized autonomous organizations (DAOs) have been formed to support Ukrainians. NFTs have been sold to raise money for the Ukrainian people and military. The country’s official Twitter account has said it accepts Bitcoin, Ether, and Tether. This article features the list of top crypto donations to Ukraine.
The popular video subscription platform OnlyFans says it donated 500 ETH (roughly US$1.3 million) to UkraineDAO, a decentralized autonomous organization raising funds to support Ukraine during its war against Russia. A representative of OnlyFans told CoinDesk the donation is a part of the company’s larger charitable effort to support Ukraine, led by OnlyFans’ Ukrainian-American owner Leonid Radvinsky.
The company says it has now sent over US$5 million to various humanitarian efforts supporting the country, with an additional US$1 million donation planned to be sent on March 15.
UkraineDAO has been a leading crypto contributor to Ukraine’s government in recent weeks, which has now received over US$50 million in crypto donations since tweeting out its ether (ETH) and bitcoin (BTC) addresses in February.
The DAO was formed by Russian art collective Pussy Riot and non-fungible token (NFT) studio Trippy Labs, with its largest single donation coming from a US$6.5 million crowdfunded NFT sale on March 2, to which OnlyFans’ 500 ETH donation contributed.
At the point that OnlyFans made the 500 ETH donation, the DAO was stalled at about half of the 1,000 ETH reserve amount, a representative said. The OnlyFans donation pushed the amount over the top, and from that point on more donations began to pile in.
One CryptoPunk NFT worth over US$200,000 was sent to the Ukrainian government’s Ethereum account, and Elliptic says that a single transaction worth US$1.86 million looks to have come from the sale of NFTs originally intended to raise funds for Wikileaks founder Julian Assange.
On Twitter, the CEO of the cryptocurrency exchange FTX announced that the company “just gave US$25 to each Ukrainian on FTX.
President Joe Biden instructed the U.S. State Department to release up to an additional US$350 million worth of weapons from U.S. stocks to Ukraine on Friday as it struggles to repulse a Russian invasion. In a memorandum to Secretary of State Antony Blinken, Biden directed that US$350 million allocated through the Foreign Assistance Act be designated for Ukraine’s defense.
In addition to the US$350 million that the White House authorized in military aid to Ukraine, the Biden administration is asking Congress for US$10 billion in immediate emergency aid to bolster humanitarian supplies, security forces, and the economies in Ukraine and its central European partners. Meanwhile, USAID has pledged another US$54 million in humanitarian aid to Kyiv.
GoFundMe is full of pages that purport to be raising money for Ukrainians in need, and the website of the Ukrainian foundation Come Back Alive, a nonprofit charity benefiting the country’s military, has raised a staggering US$4million in cryptocurrencies with a single anonymous donation clocking in at US$3 million.