Crypto Donations to Ukraine Jump to $20M

FTX founder Sam Bankman-Fried and CEO Deepak Thapliyal have contributed.

AccessTimeIconFeb 28, 2022 at 5:33 a.m. UTC
Updated May 9, 2023 at 3:39 a.m. UTC

The Ukraine government’s call for donations to resist the Russian invasion and provide aid to those affected has been embraced by the crypto community with nearly $20 million raised in ether and bitcoin.

  • Earlier on Monday, the donation figure hit the $10 million mark, but a significant uptick in donations during the day drove the figure past $20 million, according to on-chain data reviewed by Elliptic.
  • On Monday, Binance announced it would donate $10 million crypto to the effort and launched a crowdfunding portal to encourage its users to donate more.
  • According to on-chain data, over $6 million has been received in the effort’s Ethereum wallet.
  • That includes $1.1 million in tether and $109,000 in USDC.
  • On-chain data shows that FTX founder Sam Bankman-Fried donated $250,000 in tether and CEO Deepak Thapliyal donated 100 ether (about $277,000).
  • Data shows that Ukraine is holding the crypto in a ERC-20 wallet and hasn’t made a withdrawal.
  • Ukraine’s Bitcoin wallet has received $4.2 million. The country has already withdrawn $2.9 million of that amount.
  • Over the weekend, Russian art collective Pussy Riot helped form a decentralized autonomous organization (DAO) that raised $3 million in ether for the war effort and humanitarian relief.
  • A separate wallet for donations to the Ukraine army, run by the charity Come Back Alive, has raised $6 million since its inception in mid-2021.

UPDATE (Feb. 28, 13:01 UTC): Updates donation figure throughout, adds Binance's donation in second bullet.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.