Europe sees fastest growth in extremist crypto donations, Chainalysis warns

North America remains the largest source of extremist crypto donations, but Europe’s rapid growth demonstrates changing regional dynamics, alarming analysts.

Extremist groups around the world are increasingly relying on crypto, with Europe Seeing a concerning increase in activity, US-based blockchain analytics firm Chain-analysis warns. While North America still leads in overall contributions, amounting to more than $20 million, Europe’s share has also grown strongly, especially since 2017, according to a Jan. 23 research report.

“Between 2022 and 2024, Europe’s share increased dramatically, commanding up to almost 50% of total inflows,” the report said. Chainalysis, which used terrorism funding,” explains the sharp rise in nationalist, anti-Semitic and white supremacist groups, often linked to polarized political events like elections in France and the United Kingdom

“A concerning trend among ideological groups is the deliberate mixing of ideologies to broaden appeal. For example, movements may combine homophobic rhetoric with white supremacist or pro-Russian themes, strategically appealing to broader audiences by capitalizing on overlapping grievances and similar narratives. »

Chain-analysis

Although total inflows are increasing, the average donation size has remained relatively small, typically a few hundred dollars. However, the report notes that donor intensity is increasing, particularly in Europe. Larger contributions often coincide with major political events, with donors celebrating victories or reacting to losses.

Amid the growth, privacy coins such as Monero (XMR) are becoming a preferred method for some groups to avoid scrutiny in regions with strict hate speech laws, such as Germany and Austria, the analysis channel warned, highlighting a growing challenge in the fight against extremist financing on a global scale.