The embattled Ukrainian government has spent US$54 million, raised through donations in cryptocurrencies, to supply defenders with military equipment, armor, clothing, medicines and vehicles, a senior minister said.
See related article: Vitalik Buterin says he used Tornado Cash to donate to Ukraine
Ukraine spent the highest amount – US$11.8 million – on unmanned aerial vehicles (UAVs), Mykhailo Fedorov, Vice Prime Minister of Ukraine and Minister of Digital Transformation of Ukraine, said in a post on his verified Twitter handle.
The country spent US$6.9 million on armored vests and US$5.7 million on computer hardware and software.
The donations were facilitated by Aid For Ukraine, an initiative by Everstake, FTX, and the Ministry of Digital Transformation of Ukraine.
Aid For Ukraine is cooperating with FTX which converts the received crypto funds into fiat and sends the donations to the National Bank of Ukraine.
In March, Ukraine’s President Volodymyr Zelenskyy signed a virtual assets bill into law to legalize cryptocurrencies in a country that has been receiving millions in crypto donations for military and humanitarian aid in its war against Russia.
See related article: Ukraine’s NFT museum of Russian conflict goes live