$110 million in cryptocurrencies, including Bitcoin, Ether, Polkadot, and Solana have been donated to Ukraine’s war efforts as of the beginning of April. Even though it’s a fraction of the total money flowing into the country, crypto donations have gotten a lot of attention — praised for their ability to cross borders quickly and without friction. But there are risks with donating crypto too. The currency’s value is extremely volatile, and the lack of regulation has also invited thousands of scammers, and has raised fears that Russians could use it to avoid sanctions.
So how much of an impact is crypto really making in Ukraine?