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Russians Sending Money To Ukraine Using Crypto

Russians Sending Money To Ukraine Using Crypto

Russian individuals who oppose their government’s conflict with Ukraine use cryptocurrency to express their views.

“Donations to Ukraine have varied from one dollar to millions of dollars,” said Ukraine’s deputy digital minister, Alex Bornyakov. “Crypto, in certain cases, offers an anonymous way to transfer money. We see that some Russians are donating to us a significant sum.”

“The Russian people who have donated have sent significant amounts of money. I understand that from within Russia, there is no other way for them to do this other than through crypto,” he added.

The comments follow Russia’s extensive military invasion of Ukraine by nearly a year.

Since then, over 100,000 individuals have used cryptocurrencies to provide relief to Ukraine, with a third coming through the Crypto Fund Aid for Ukraine project, which was supported by the Ukrainian Ministry of Digital Transformation and was operated by the Kuna blockchain platform and organization.

Bitcoin, Ethereum, Cardano, Solana, Polkadot, and stablecoins like USDC and USDT make up the majority of asset donations to Ukraine.

“So far Ukraine has received around 650 bitcoins, more than 10,000 Ethereum, and there was also a significant amount of Polkadot, almost 1.8 million in Solana and $2.8m in the form of the USDC stablecoin,” Bornyakov said

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