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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.