Ukraine’s vice prime minister and minister of digital data, Mykhailo Fedorov, on Sunday shared a photograph of what the war-torn nation is spending crypto donations on: 200 units of ballistic plates for bulletproof vests.
“The better equipped soldiers,” wrote Fedorov, “the sooner day of Ukrainian victory.”
Ukraine started accepting donations in cryptocurrencies virtually instantly after Russia invaded in late February. Tens of hundreds of thousands of {dollars} shortly flooded in—from people, crypto grants, NFT gross sales, and DAOs.
Crypto for good. @_AidForUkraine continues its work for the frontline heroes: 200 units of ballistic plates of 4 class for bulletproof vests have been despatched. The higher outfitted troopers — the earlier day of Ukrainian victory. pic.twitter.com/2LisXTUuKq
— Mykhailo Fedorov (@FedorovMykhailo) April 17, 2022
It’s not clear exactly how a lot complete crypto has been donated to the warfare effort. Elliptic stopped counting at $63.8 million—the blockchain analytics agency as an alternative added a hyperlink to Ukraine’s official website—however based on a latest Financial Times report, it is greater than $100 million.
Although considerations have been raised that Russia might equally increase funds and/or dodge sanctions with crypto, Treasury Secretary Janet Yellen stated earlier this month that “we haven’t seen significant evasion through crypto so far.”
Perhaps simply to be protected, the European Union a number of days later launched a ban on “providing high-value crypto-asset services to Russia.”
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