Ukraine Has Received More Than $18M In Crypto Donation.

Ukraine has obtained cryptocurrency donations worth more than $18 million. With over 240BTC received, 231 of them have already been spent.

Since Ukraine said that it will take cryptocurrency donations. Millions of dollars in cryptocurrency have flowed in from all around the world to help the country in its fight against Russia’s invasion. The international community has given approximately $18 million to Ukraine as of March 4th.

The majority of the fund’s assets are Bitcoin, with around 240.569BTC valued at nearly $9 million. After the founder of Polkadot donated almost $5.7 million, The country stated that it will accept DOT in addition to BTC, ETH, and USDT.

Over $3,5 million in ETH has also been received.

Ukraine’s Defense Ministry is determining how to allocate donated cryptocurrency funds.

The Ukrainian government has refused to disclose where the funds are being spent “due to a level of secrecy involved” but has argued that it is transparent owing to blockchain technology.

We have known that 231.345BTC has been spent by the Ukrainian government.

According to a person acquainted with the process, Ukraine’s Defense Minister Oleksii Reznikov is aware of how the money are being dispersed because he is the one issuing instructions. The government will have to release more information, according to the source.

It is reported that the government is utilizing cryptocurrency donations to purchase crucial commodities such as gas, food, and military equipment.

Ukraine has received over $50 million in total donations up to this point. BTC, ETH, DOT, USDT, and, most recently, meme currencies are accepted.

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Patrick

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