Ukraine appeals for cryptocurrency donations in tether, ether, or bitcoin to fund efforts protecting it against Russian attacks

A protestor holds a sign during a demonstration against the Russian invasion of Ukraine, in Brussels, Saturday, Feb. 26, 2022.
Valeria Mongelli/AP Photo

Ukraine is requesting cryptocurrency donations in the form of tether, ether, or bitcoin.
The country on Saturday made the appeal for digital funding on its Twitter account.
The request comes as crypto donations have already started pouring into the country.

Ukraine is now calling for cryptocurrency donations to support itself against Russian attacks.

The country's official Twitter account on Saturday announced that it is now accepting crypto, writing in a tweet that it will take donations in the form of bitcoin, ether, and tether.

"Stand with the people of Ukraine as we defend ourselves from Russian aggression," the country tweeted.

The request comes as bitcoin donations have already started pouring in to support Ukraine after Russian President Vladimir Putin on Thursday authorized a full-scale attack against the country. Russian forces are now advancing toward the Ukrainian capital of Kyiv, and the city's mayor, Vitali Klitschko, has issued a strict curfew for the city.

Come Back Alive — a Ukraine-based nonprofit that raises money for medical kits and military gear — has already raised bitcoin worth $4 million since the invasion began earlier this week, according to blockchain analytics company Elliptic.

The organization, which Ukraine's official website describes as the country's "main charity fund," had previously accepted donations through a Patreon page which was subsequently suspended by the platform due to the nonprofit's connection to the military.

"We don't allow Patreon to be used for funding weapons or military activity," Patreon said in a blog post. "It is a violation of our policies, and so we have removed the page."

Jess Symington, research lead at Elliptic, told Insider on Friday that cryptocurrency donations provide an alternative to navigating complex international banking systems. The digital currency allows donors to more seamlessly send funding internationally and avoid financial institutions that may block money transfers, she said.

"This is potentially a new factor in complex situations — the idea of fundraising and crowdfunding for defense efforts," she said.

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