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.
Mar 11, 2022 at 4:47 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/MTIX336PHFH7JGMM46FVVFLNXQ.jpg)
Ukrainian servicemen make a stop on the road on March 5, 2022 in Sytniaky, Ukraine (Anastasia Vlasova/Getty Images)
Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.
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.
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Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.
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Amitoj Singh is CoinDesk's regulatory reporter covering India. He holds BTC and ETH below CoinDesk's disclosure threshold of $1,000.
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