Ukraine Minister Thanks Crypto Donors on Easter, Says ‘Crypto for Good’

The Ukraine official said ‘crypto for good,’ and every donation strengthens its defense capabilities. Crypto funds, according to Mykhailo Fedorov, were used to purchase 200 sets of ballistic plates for bulletproof vests.

Mykhailo Fedorov, Ukraine’s Minister of Digital Transformation, thanked crypto benefactors for this Easter. Every payment, he continued, is “strengthening Ukrainian defense capabilities.”

Crypto donations are being used to purchase 200 sets of 4 class ballistic plates for bulletproof vests, according to a Ukrainian official who tweeted on Sunday. He wrote,

“The better-equipped the soldiers are, the sooner day of Ukrainian victory”

Since the beginning of Russia’s full-scale invasion in February of this year, the war-torn country has received millions of dollars in cryptocurrency donations. The domination of Ethereum in the allocation of donations was particularly intriguing. Bitcoin and Polkadot came in second and third, respectively.

He also expressed gratitude to cryptocurrency contributors.

According to a recent Financial Times report, the Ukrainian government spent half of its cryptocurrency fundraising on protective jackets, food rations, helmets, and medical supplies, among other things:

“[They were] deliberately choosing to spend the funds on non-lethal equipment, so as not to deter future donors.”

Bitcoin, Ether, Tether, Solana, and Dogecoin are among the nine cryptocurrencies accepted by Aid for Ukraine. Fedorov instructed his subordinate on the second day of the invasion to set up official government wallets that could receive cryptocurrency payments.

Since the beginning of the conflict, the Ukrainian government has received over $100 million in cryptocurrency donations. Though minor in comparison to the IMF and other western governments’ billions in help, Ukraine’s deputy minister of digital transformation told the Financial Times that crypto has become a “essential tool of war,” allowing flexibility and speed.

Several crypto platforms have lately emerged, taking donations in cryptos, stablecoins, and non-fungible tokens (NFTs).

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Patrick

CoinCu News