Ukraine Details What Crypto Donations Are Being Spent On

The war-torn nation says it has spent nearly all $100 million in crypto it received to buy bulletproof jackets, helmets, food and more.

AccessTimeIconMar 11, 2022 at 4:47 p.m. UTC
Updated May 11, 2023 at 3:54 p.m. UTC

Ukraine has revealed how it has been spending the crypto donations sent to support its resistance against Russia's invasion. Alex Bornyakov, Ukraine's deputy minister in the Ministry of Digital Transformation and the de facto crypto spokesperson for the government, shared the details in a tweet on Friday.

  • From March 1, the war-torn nation has used crypto donations to buy 5,500 bulletproof jackets, 410,000 packed lunches, 500 ballistic plates for bulletproof vests, 3,125 thermal imagers and optics, 500 helmets, 3,427 medicines and 60 walkie-talkies, according to Bornyakov.
  • "Crypto-assets proved extremely helpful in facilitation of funding flows to the Armed Forces of Ukraine," Bornyakov noted. "Huge thanks to everyone who donated to the Crypto Fund of Ukraine. Each and every helmet and vest bought via crypto donations is currently saving Ukrainian soldiers' lives," he said.
  • Bornyakov revealed this week that Ukraine has received close to $100 million in crypto donations, and the funds have been used to buy non-lethal military equipment, among other things.
  • Bornyakov had earlier told CoinDesk that some of Ukraine’s weapons suppliers are accepting payments directly in crypto but that he could not reveal what military equipment was being bought because of national security concerns.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Amitoj Singh

Amitoj Singh is a CoinDesk reporter.


Read more about