While global crypto donations to extremist groups decline, Europe sees a surge in activity.
European Crypto Donations See Significant Growth
Crypto donations to extremist groups have declined globally but are rising in Europe, according to Chainalysis. The report shows Europe accounted for nearly 50% of extremist group on-chain activity between 2022 and 2024. North America still leads in overall donations, contributing $20 million, while Europe follows with $1.9 million.
Increased Donations by Ideological Groups
From 2023 to 2024, extremist groups in Europe saw increases in donation amounts. Contributions to white nationalist groups rose 270%, with nationalist, conspiracy, anarchist, and antisemitic groups also seeing significant growth.
Polarizing Events Drive Donations
Events such as national elections have fueled an increase in donations. These events often attract supporters to extremist ideologies, boosting crypto contributions.
Challenges and Adaptations for Extremist Groups
Despite regulations targeting extremist funding, groups have adapted. Anti-terrorism laws require exchanges to block such activities, but some groups have shifted to privacy coins like Monero or operate on the dark web to evade scrutiny.
The Impact of Debanking
Debanking practices have also influenced crypto usage among extremist groups. Being excluded from traditional banking systems has pushed many to adopt cryptocurrency as a primary funding method. This shift highlights crypto’s role in bypassing sanctions and facilitating global financing for such groups.
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