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$54 million as bitcoin donations

Local residents are seen in front of partially empty shelves at a supermarket in Kyiv, Ukraine March 3, 2022. Mykhailo Markiv | Reuters Donations in cryptocurrencies like bitcoin and ethereum are pouring into Ukraine as the war with Russia enters its second week. Since Moscow invaded on Feb. 24, more than 102,000 cryptoasset donations, totaling $54.7 million, have gone to the Ukrainian government and Come Back Alive, an NGO providing support to the military, according to new data from blockchain analytics firm Elliptic. The raise includes a single donation of $5.8 million from Gavin Wood, the founder of a lesser-known cryptocurrency called polkadot. Donations have picked up this week, with around 72,000 of these donations coming in the past two days. Thus far, the contributions consist of $18.2 million in ether, $17.2 million in bitcoin and $9.5 million in a mix of U.S. dollar-pegged stablecoins, including an anonymous donation of $1 million in tether, a controversial token designed to be pegged to the U.S. dollar. Accepting donations in crypto is new for the Ukrainian government. Up until Saturday, all donations had to travel via traditional payment channels , but on Feb. 26, the government decided to get creative. Twitter accounts belonging to the Ukrainian government began to solicit cryptoasset donations for the first time. The move came after the country's central bank cracked down on digital money transfers in connection with a nationwide declaration of martial law. Cryptocurrencies such as bitcoin have become more popular since they allow users to bypass financial institutions that might block payments to Ukraine. Elliptic says that the bitcoin, ethereum, tron, polkadot, dogecoin and solana addresses listed in the tweets have received over 96,000 cryptocurrency donations, with a total value of $46.7 million going directly to the government. "Cryptocurrency is particularly suited to international fundraising because it doesn't respect national boundaries and i

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