Ukraine has been among the top 10 countries globally in terms of cryptocurrency adoption for several years, according to data from Chainalysis analysts. In some rankings, it even appears as one of the countries holding the largest amount of bitcoins — for example, the Bitcoin Treasuries portal shows a value of 46,351 BTC. However, the portal does not disclose the exact nature of these coins. So where did this figure come from?
Most likely, it was recorded from the reports of declared cryptocurrencies by Ukrainian officials for 2020. In any case, this is the amount of bitcoins that analysts counted among government employees during that period.
Over the years, the figures in the declarations of officials have become “modest.” For example, in the 2020 reports, some declared literally thousands of bitcoins — for instance, at that time, Dnipro city council deputy Vyacheslav Mishalov declared 18,000 BTC. Now, the largest amount of the first cryptocurrency appearing in declarations does not exceed 200 BTC. At the same time, the number of declarants reporting digital assets ownership is steadily increasing.
Last year, the Incrypted editorial team conducted a large-scale analysis of declarations from the Unified State Register for 2023, in which crypto assets were mentioned. Two parts of our report can be found below:
This year, we once again analyzed the cryptocurrency information presented by officials in their 2024 declarations and prepared a ranking of the largest holders of digital assets, as well as determined which crypto platforms they most often choose for storage.
Top 10 Bitcoin Holders
In the 2024 declarations, over 2000 officials mentioned digital currencies.
The ranking is topped by Alexander Kizlyar, a deputy of the Khmelnytsky Regional Council. As in the previous year, he stated that he and his wife own 100 BTC (worth over $8 million at the time of writing). He is also the largest holder of Ethereum — 1000 ETH (over $1.8 million). Kizlyar also declared 6.5 billion PEPE and 1500 SOL.
In second place is Nikita Kuzkevich, a deputy of the Odessa Regional Council. Last year, he led the ranking of the largest Bitcoin holders among declarants, but in the 2024 declaration, some of his assets are no longer listed.
Third place goes to Oleg Bondarenko, the head of the Committee of the Verkhovna Rada on Environmental Policy and Natural Resource Use, with 80 BTC.
Top 10 Ethereum Holders
As mentioned earlier, the leader in the number of declared Ethereum is Alexander Kizlyar, a deputy of the Khmelnytsky Regional Council.
In second place is Sergey Mayzel, listed in the declaration as the CEO of Investment Union Lybid LLC He owns 200 ETH (about $363,000 at the time of writing) and 4 BTC ($335,000).
In third place is Alexander Pustovoit, listed as the director of LLC “Unified Center for Settlements.” He reported owning 168 ETH ($305,000).
Top 10 Tether Holders
The stablecoin USDT from Tether turned out to be the most popular digital asset among declarants.
The ranking is led by Vitaliy Brovko, the head of the department at the Office of the Prosecutor General. Last year, he held second place, but this year he has moved up to first. For 2024, Brovko declared over 847,000 USDT. His wife is listed as the owner, as before. Additionally, according to the report, she earned income from the sale of crypto assets amounting to 2.4 million UAH.
In second place is last year’s leader, Maksym Kiselev, the director of the Department of the State Enforcement Service at the Ministry of Justice. The number of assets he holds has not changed— over 647,000 USDT.
Third place goes to former Ukrainian ambassador to China, Pavlo Ryabikin. According to his declaration,, in August 2024, he became the owner of 380,000 USDT.
Most Popular Platforms
In their 2024 declarations, public officials listed various platforms and wallets where their digital assets are stored. The undisputed leader in terms of mentions in the reports is the Binance exchange.
Following Binance are ByBit and OKX. Less than 2% listed cold wallets as service providers for storing cryptocurrencies.