Cryptocurrency donations have “played a significant role in protecting Ukraine,” a Ukrainian government official wrote.

According to Ukraine’s Deputy Prime Minister, the cryptocurrency community has invested an impressive $54 million in crypto funds through Aid to Ukraine to support the country’s military actions against Russia.

According to a tweet by Ukraine’s Deputy Prime Minister Mykhailo Fedorov on Thursday, $54 million was channeled through the state-run initiative Ukraine Aid to Ukraine, which thanked the crypto community for their support:

“Every helmet, body armor and night vision device saves the lives of Ukrainian soldiers. Therefore, we must continue to support our defenders. Thank you to all members of the crypto community for supporting Ukraine!”
According to the Ministry of Digital Transformation of Ukraine, $54 million in aid to Ukraine came mainly in the form of 10,190 Ether (ETH) worth $18.7 million, 595 Bitcoin (BTC) worth 13, $9 million, Tether (USDT) worth $13.9 million and $10.4 million. and USD Coin (USDC) valued at $2.2 million.

Cryptocurrency payments went to military vehicles, equipment and ammunition, including $11.8 million worth of unmanned aerial vehicles (UAVs), which are commonly used for detecting enemy troops and direct attacks.

A significant amount of donations were also made for body armor of $6.9 million, as well as $3.8 million for field rations, $5.2 million for anti-war media campaigns, and $5 million for “weapons on demand ” issued. Ministry of Defense [Ukraine].” Other military and medical supplies.

“Cryptocurrency plays an important role in the defense of Ukraine,” Deputy Minister of Digital Transformation of Ukraine Oleksiy Bornyakov told the state donations website.

The founder of Ukraine’s cryptocurrency exchange KUNA, Mike Chobanian, added that the crypto community’s contribution has shown the impact that blockchain technology can have on nation-states, saying that in troubled times it acts as the “foundation of global security.” “ can serve.

Aid For Ukraine works with the transfer of cryptocurrencies to crypto exchange FTX, which converts cryptocurrencies into fiat and then withdraws and transfers them to the National Bank of Ukraine.

Related: Ukraine has already received $37 million in tracked crypto donations

But Aid to Ukraine is not the only organization receiving funds to help Ukrainian defense contractors. The Ukraine Reserve Fund, Come Back Alive, UkraineDAO, and Unchain Fund have also contributed funds in the seven-figure range, although the amount of crypto funds received has not been disclosed since March.

Source: CoinTelegraph