Most Comprehensive Report on Crypto Fundraising for Ukraine

Using Web3 tech crypto community raises millions of dollars in donation

The crypto community has been quick to mobilize support for Ukraine after Russia invaded the country on Feb 24th. A number of volunteer driven initiatives cropped up leveraging web 3 tools to organize, collect and manage crypto donations. To date over $60 million have been raised in crypto. As per blockchain analytics firm Elliptic, Ukrainian government and NGO Come Back Alive providing support to the military have raised over $50 million.

Ukraine government’s official Twitter handle put out a plea for crypto donations. To date the addresses listed in the tweets have received $34.2 million worth of cryptocurrencies including a Crypto Punk NFT valued at $200,000.

Initially Ukraine Government was accepting donations only in BTC, ETH and USDT but in response to the enthusiasm from the larger crypto community to donate, the Ukraine government is now accepting donations in many other cryptocurrencies.

Unchain.fund, a crypto fundraising campaign was set-up by folks from the blockchain community to support humanitarian needs of Ukrainians. The campaign organizers set up a multi signature wallet as a way to build trust in managing the donations. Unchain.Fund is raising money for a number of charities in Ukraine who are local and directly involved in providing relief. To date the fund has raised $2 million.

Pussy Riot’s Nadya Tolokonnikova banded with members of the crypto community to start a decentralized autonomous organization called Ukraine DAO. The DAO is mobilizing donations by auctioning an NFT of the Ukrainian Flag through party bid (people can bid for NFT as a group thus encouraging contributions of every size) and also accepting direct donations at UkraineDAO.eth. The group has raised $6.5 million so far.

100% of the funds are going to a Ukrainian charity called Come Back Alive

Jack Butcher, Founder of Visualize Value and a prominent name in the NFT space created a collection of 1000 NFTs called, Sovereign donating all proceeds to Endaoment’s Ukraine Sovereignty Fund.

Binance a cryptocurrency exchange donated$10 million to help with the humanitarian crisis in Ukraine and also started a crypto crowdfunding campaign.

Time magazine’s web3 community initiative launched an NFT collection called Make Art Not War directing 100% funds raised from the sale of NFTs to relief efforts in Ukraine. The art pieces for the collection has been donated by 59 TIMEPiece artists and are taking zero royalties from primary and secondary sales to direct as much funds possible to Ukraine.

The response from the crypto community has been phenomenal. It’s been great to see how the community quickly self organized online to raise funds and made use of web3 technologies designed to facilitate online collaboration, trust and transparency in managing funds.

I plan to update this report so come back to check in for new updates on Crypto Fundraising for Ukraine.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice.