Ukraine puts $54m in crypto towards military supplies

The Ukrainian government has spent $54m of donated cryptocurrency on war supplies.

The funds have supplied the Ukrainian army with military equipment, clothing, medicine and transportation.

Out of the $54m, the country has spent the most on unmanned aerial vehicles (UAVs) to the value of $11.8m.

Vice prime minister of Ukraine and minister of digital transformation Mykhailo Fedorov took to Twitter to thank the crypto community “for support since the start of the full-scale invasion”.

Aside from the UAVs, $9m was spent on armoured vests alone and $5.7m on computer hardware and software.

Amid the invasion of Ukraine by Russian troops, countries worldwide donated cryptocurrencies to help provide support during the war.

In March, Ukraine’s president Volodymyr Zelensky legalized cryptocurrencies in the country and signed a virtual assets bill after millions in crypto donations were sent for military and humanitarian aid in support of the Russian invasion.

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Source

Updated: 08/19/2022 — 14:00