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.
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Fast facts
- 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.
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