According to Chainalysis, Ukraine was supported with about $50mln in Bitcoin and Ether

Ukraine and Russia used crypto to support war efforts

Ukraine has received over $70 million in cryptocurrencies since the start of the Russian-Ukrainian conflict, providing the nation with funds for military equipment and humanitarian assistance. According to blockchain data platform Chainalysis, the majority of the funds came in the form of Ether and Bitcoin. ETH donors led the way with $28.9 million given, while donors of BTC and Tether chipped in $22.8 million and $11.6 million, respectively.

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The increased reliance on cryptocurrencies in Ukraine looks to have increased adoption in the country, with Ukrainians being the third-highest adopters, behind Vietnam and the Philippines. However, pro-Russian military groups have also used cryptocurrency to crowdfund their war efforts, according to Chainalysis.

Coinbase introduces crypto EURO

Coinbase has listed Euro Coin (EUROC), the euro-pegged stablecoin introduced by Circle in June 2022. Unlike other euro-pegged stablecoins, such as Stasis Euro (EURS), Euro Tether (EURT), and sEUR (SEUR), EUROC is fully supported by Coinbase. Coinbase also offers varying levels of support for the US dollar stablecoins Tether’s USDT, Maker’s DAI, and Paxos’ PAX, although not all of them are listed on its main exchange.

The announcement comes a day after Coinbase suspended trading of the Binance USD (BUSD) stablecoin and on the same day that the company launched its crypto policy advocacy program, Crypto 435.