Crypto donations to Ukraine turned into bulletproof vests, helmets, and lunches
The Ukraine and Russia conflict has been one of the biggest events around the world in 2022. Following the Russia's "special military operation," Ukraine has been receiving huge donations in the form of cryptocurrencies from people, firms, and countries. In this article, we’ll throw light on what the crypto donations were used for.
Crypto donations to Ukraine
It is important to note that the nation was able to collect millions in crypto donations that were sent to Ukraine. The donation was used to buy 5,550 bulletproof vests, 410,000 packed lunches, and 500 helmets. The list was revealed by deputy minister of Digital Transformation Alex Bornyakov on Friday, March 11, and includes the supply bought since March 1.“Crypto assets proved extremely helpful in facilitation of funding flows to the Amed (sic) Forces of Ukraine,” said Bornyakov.
It is a fact that since the first time that the nation appealed for donation, more than $100 million has been donated to the country via cryptocurrencies. Moreover, the nation also received more than 180 NFTs or non-fungible tokens including CryptoPunk #5364, which were donated to the nation.
$15 million spent
As per a report from Bloomberg, “Ukraine has already spent $15 million of the donations it received in cryptocurrencies on military supplies, including bulletproof vests that were delivered Friday, according to Alex Bornyakov, deputy minister of Digital Transformation of Ukraine.”Kuna.io, the Kyiv-based cryptocurrency exchange, was responsible for the management of crypto wallets for donations of Ukraine. Talking about the fact that there is a possibility that nuclear weapons or rockets are bought with the donation, Kuna.io’s chief executive, Michael Chobanian said:
“We obviously can’t buy nuclear bombs or rockets.”The crypto donations were also used to buy heat-sensitive goggles and gasoline, from both state actors and the private sector, as per Washington Post.
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