Ukraine Spent Over $50 Million in Crypto for Military Spending

Mykhailo Fedorov, Ukraine’s Deputy Prime Minister, yesterday detailed how the country’s $54 million in crypto donations were spent.

Unmanned aerial vehicles (or drones) accounted for the highest cost at $11.8 million. Then the country spent $6.9 million on body armor and $5.7 million on computer hardware and software.

Thanks to the crypto community for their support since the start of the large-scale invasion“, tweeted Fedorov.

Over $60 million in crypto donations have been made since Russia began its invasion of Ukraine, according to the organization.

Donations were facilitated by Aid For Ukrainea non-profit organization powered by cryptocurrency exchange FTX, Everstake, Kuna, and the Ministry of Digital Transformations of Ukraine, supporting both humanitarian efforts and the Armed Forces of Ukraine.

Crypto has been a big player since the invasion began, giving people around the world a way to support Ukrainian efforts.

On February 26, the Ukrainian government tweeted bitcoin addressesEthereum and Polkadot for donations to “stand with the Ukrainian people.A week later, the government received a total of $50 million in crypto donations.

The donations included $5 million from Polkadot co-founder Gavin Wood, a $200,000 CryptoPunk, and a $1.26 million donation from the sale of an NFT by Julian Assange and digital artist Pak, according to a report by Elliptic.

Vitalik Buterin, the Russian-Canadian co-founder of Ethereum, has donated 2.5 million Ethereum to Aid for Ukraine, “dworth 31,000 medical kits, 364,000 medical supplies and 585 kits and radio stations for the Ukrainian army“, said the non-profit organization.

Using blockchain to its advantage, the Ukrainian Ministry of Digital Transformations has also launched the Meta History Museum of Warfeaturing ready-to-purchase NFTs of recent chronicles of wartime events and deeds.

As Russia Uses Tanks To Destroy Ukraine, We’re Leveraging Revolutionary Blockchain Technology“, tweeted Fedorov.

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