Home Business Ukraine spent $54 million in crypto on drones and other military spending

Ukraine spent $54 million in crypto on drones and other military spending

Ukraine spent $54 million in crypto on drones and other military spending

Mykhailo Fedorov, Ukrainian Deputy Prime Minister, shared yesterday how $54 million of the country’s crypto donations were spent.

Unmanned aerial vehicles (or drones) accounted for the highest cost at $11.8 million. After that, the country spent $6.9 million on body armor and $5.7 million on hardware and software.

Overview of crypto fund spending. Source: Twitter.

“Thank you to the crypto community for their support since the large-scale invasion began,” Fedorov tweeted.

Over $60 million in crypto donations have been made since Russia began its invasion of Ukraine, according to the organization.

The donations were facilitated by Aid For Ukraine, a non-profit organization powered by crypto exchange FTX, Everstake, Kuna and Ukraine’s Ministry of Digital Transformations, supporting both humanitarian efforts and the armed forces Ukrainians.

Decrypt has not yet received a response for more information from Aid to Ukraine and the Ministry of Digital Transformation.

Crypto in Ukraine

Crypto has been a big player since the invasion began, giving people around the world and even in Russia a way to support Ukrainian efforts.

On February 26, the Ukrainian government tweeted Bitcoin, Ethereumand Spotted addresses for donations to “Stand with the Ukrainian people. A week later, the the government received a total of $50 million in crypto donations.

Donations included $5 million from Polkadot co-founder Gavin Wood, $200,000 CryptoPunkand a $1.26 million donation from the sale of an NFT by Julian Assange and digital artist Pak, according to a report from Elliptic.

Vitalik Buterin, the Russian-Canadian co-founder of Ethereum, make a donation $2.5 million worth of Ethereum to help Ukraine, “worth 31,000 medical kits, 364,000 medical supplies and 585 kits and radio stations for the Ukrainian army,” the organization said with a view to non-profit.

Using blockchain to its advantage, Ukraine’s Ministry of Digital Transformations has also launched the Meta History Museum of War, which offers ready-to-purchase NFTs of recent chronicles of wartime events and happenings.

“As Russia uses tanks to destroy Ukraine, we rely on revolutionary blockchain technology,” tweeted Fedorov.

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