Ukraine is using Bitcoin (BTC) to ‘crowdfund war’ with Russia

As tensions on Ukraine’s border continue to mount, Ukrainian non-governmental organizations (NGOs) are seeing a sharp rise in Bitcoin donations, according to a new report by blockchain analytics company Elliptic.

These aren’t charities to fight poverty or spread social justice. We’re talking about pro-Ukrainian hacktivists and military organizations.

Elliptic says it amounts to NGOs and other groups using cryptocurrency to “crowdfund war.”

Russia has amassed 100,000 to 130,000 troops on its borders with Ukraine and Belarus as a prelude to a potential invasion. The United States, a Ukraine ally, has moved 3,000 troops into the region, with another 8,500 on heightened alert.

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