Cryptocurrency crash devalues Ukraine's government crypto fundraise

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LONDON - Ukraine, battered by three months of war, plans to continue to tap crypto investors to help raise funds after a plunge in prices decimated the country's fundraising efforts in May.

LONDON - Ukraine, battered by three months of war, plans to continue to tap crypto investors to help raise funds after a plunge in prices decimated the country's fundraising efforts in May.

On March 19, the government's"Aid for Ukraine" fund said it had raised more than US$60 million worth of cryptocurrency. Ukraine has been funding its war effort in part with cryptocurrencies. The year before the war saw a rise in bitcoin donations to Ukrainian volunteer groups, some of which supplied equipment to government forces.

 

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