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Ukraine: How the $100 million crypto donation was spent by Ukraine

Alex Bornyakov, from the Ministry of Digital Transformation in Ukraine, revealed on Twitter the country’s spending thanks to the $100 million received in crypto donations.

“Crypto currencies have proven to be extremely useful in facilitating the flow of funding to the armed forces of Ukraine. A big thank you to everyone who donated to the Crypto Fund of Ukraine.

Every helmet and vest purchased through crypto-currency donations is currently saving the lives of Ukrainian soldiers. “Alex Bornyakov”

The deputy minister of digital transformation said the soldiers received 5,550 bulletproof vests, 500 ballistic plates, 3,125 thermal cameras, 500 helmets, 60 walkie-talkies and 410,000 meal baskets.

Crypto-currencies were also used to acquire medicines for the troops defending the country against Russian forces.

Alex Bornyakov revealed earlier that Ukraine has received nearly $100 million in crypto-currency donations, and that the funds have mostly been used to purchase non-lethal military equipment.

Since Ukraine began accepting cryptocurrency donations a few weeks ago, the funds have also been used to support civilians remaining in the country with access to food, water, gas and other essentials.

Despite the recent decrease in the pace of donations, Ukraine still received nearly $100 million in crypto donations in less than 3 weeks after unveiling a public address on the country’s official Twitter account.

It is further interesting to note that almost 40% of these donations were made in ETH versus 30% for Bitcoin (BTC) in addition to an NFT CryptoPunks deposited on the Ethereum address shared by Ukraine.

Bored Ape Yacht Club, the most popular NFT ecosystem in the market made a donation in ETH worth $1 million to match donations from crypto wallet owning Ape.

Crypto exchange platforms also got in on the action, with Binance validating a $10 million donation in addition to the $2.5 million sent to UNICEF. Kraken is making one of the most impressive donations with $1,000 in Bitcoin (BTC) sent to every Ukrainian user who opened an account before March 9 in addition to $1,000 in credits to allow for free conversions.

Each user has the option of selling their BTC and withdrawing the money directly, unconditionally or simply sending it wherever they want. This initiative alone has helped several thousand Ukrainian residents.

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