Ukraine Spends $15M Dollars of Crypto on Military Gear

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Out of the 50 million dollar crypto donations, 15 million dollars is already spent by Ukraine on military supplies — informs the deputy minister of digital transformation, Alex Bornyakov. Bulletproof vests are also included in it and it was delivered on Friday, claims Bloomberg report. This ministry of 250 people was established 2 years ago and the vital aim was to enhance Ukraine’s digital infrastructure.

In this war, the digital infrastructure of Ukraine needs to be intact. Within 2 days of the invasion, they managed to find suppliers for everything — food, night vision aids, first aid, other military equipment. As per reports, the government of Ukraine received 50 million dollar crypto donations and within 2-3 days anticipates doubling the amount. From an unknown location in Ukraine, this was confirmed by Bornyakov in a zoom meeting.

Bitcoin and Ether are the common crypto donations. Some donations in Polkadot, Tether and Solana have also been received.

A majority of donations do come from crypto start-ups, and other companies, Bornyakov said that common people donate the most.

From employees of other humanitarian organizations, a donation of 5 Million dollars is expected in the coming days and Amazon has confirmed 5 Million dollars to U.N.’s refugee agency. While Snapchat is holding the hands of Ukraine by its 15 million dollar donation. The world’s largest cryptocurrency exchange – Binance has also aimed to donate 10 million dollars towards aid. And up to 100,000 refugees can have free housing as offered by Airbnb. The ministry has also received donations in the form of NFTs, including the CryptoPunk. And they have made their minds not to sell it. They are not sure about how they will be using those NFTs as of now but they will find a way to use them in the upcoming future. Currently, the information technology ministry (consisting of everyone below 35 years, working remotely) is developing a military NFT and they are working on the designs and how it should look. Although they’re still figuring out everything. It should be ready in the next 2 weeks claims Bornyakov

Nitish Vaibhav
Nitish Vaibhav
Nitish Vaibhav is the Founder of the The Trading Bay. A computer science engineer turned an Entrepreneur 5 years ago. He has been in trading since 4 years in Forex and Crypto using his price action strategies. Involved in Content Creation full time for 3 years, Nitish is top rated writer on many content writing websites. He is also a YouTuber in India making videos about Crypto and Forex.

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