While many growing officials in Ukraine have invested in cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), the US dollar-paged Stablecoin Tether (USDT) is the most popular and valuable storage of digital assets it owns.
Since the start of a full-scale Russian state invasion three years ago, the declarations of government officials reporting crypto-holding have more than doubled. According to a new survey, such applications have increased by 10% over the past year.
Over 2,000 Ukrainian authorities declared crypto assets in 2024
Ukrainians working for the government are increasingly reporting their holdings of cryptocurrency on annual declarations required by domestic law. 2,113 Such submissions were registered in 2024 and the Crypto News Outlet Forklog was published, citing recently published research.
According to information collected by the Public Registry Data Monitoring Service Opendatabot, the number of code declarations submitted last year was 2.2 times higher than before the start of a full-scale war with Russia in early 2022, confirming an upward trend.
A declaration that mentioned that in 2024 alone, cryptocurrency rose 10% year-on-year – 1,917 was submitted in 2023. This number jumped to 1,481 from 960 in 2021, and it was the year when Russian Federation forces attacked Ukraine on land, sea and sea.
The report reveals that USD-assisted Stablecoin Tether, listed just over 6% of the declaration, is the most popular option last year. Meanwhile, Bitcoin, the largest cryptocurrency by market capitalization, is second at 5.5%, with Ethereum at 5.4% in close proximity. Another 3.1% of officials maintain their money on XRP, with 2.4% investing in Doge.
“The authorities most frequently declare tethers (USDT) and report their holdings by 802 government officials. Despite market fluctuations, Bitcoin (BTC, XBT) appears in the 731 Declaration.
Cryptocurrency as stated above in the official declaration. Source: opendatabot.ua
Ukrainian police officers are most active in declaring code possession
Law enforcement officials account for the largest share of submitted crypto list declarations, the study authors found. 15% of the total, Ukrainian national police leads the charts, followed by the prosecutor’s office with 240 crypto owners, or more than 11%.
A similar number of declarations have been submitted by judicial representatives. 227. 77 men and women serving in the Ukrainian Army (ZSU) have declared possession of cryptocurrency. Only 38 crypto holders worked for the National Bureau of Anti-Corruption (NABU).
In terms of geographical distribution, 582 and 185 officials, the capital city of Ukraine and surrounding Kiev regions, each with digital assets in their wallets, are led by 172 Kharkiv Oblasts.
Opendatabot has listed some of the government officials with the largest declared crypto-holdings. Among them is Oleg Bondarenko, director of the Parliamentary Committee on Environmental Policy, owning 80 BTC, which is valued at 279.4 million Ukrainian Fribnia (nearly $6.8 million) as of April 1, 2025.
The Ethereum investor leader is Ukrainian MP Serjii Meisel, who has 200 ETHs (with 15.5 million Hryvnia (over $376,000). Vitalii Brovko, who heads the prosecutor’s office division, has declared 847,908 USDT or about USD35 million (almost $850 million) in Fiat, Ukraine.
“Some former authorities reported losing access to their shares held,” the Data Monitoring Service said. These claim that Roma Salamaha, who had over 380 BTC when he was deputy director of the state’s geological department in 2021, and Ihorosipov, a member of the district council of Odesa, had lost the 1,800 ETH, which he made the final declaration.
