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Ukraine Spends $15M Raised from Cryptocurrency Donations on Military Supplies -Breaking


Ukraine raises $15 million from cryptocurrency donations for military supplies

Ukraine is receiving money in various cryptocurrency and NFTs. Bloomberg reported that the majority of donations came in and. with… and were also prominently featured.

The besieged country has used $15 million in cryptocurrency to buy supplies for the country’s armed forces, including bulletproof vests, food packages, bandages, and night-vision devices. Some suppliers took direct payment in crypto, but the majority had to convert into fiat first.

Within the first week of the war, Ukraine’s government collected $50 million in crypto donations. Vice prime minister Mykhailo Fedorov of Ukraine hopes to increase that figure by this week in support of the country’s people.

According to Bloomberg, the ministry of Digital Transformation of Ukraine, which was formed only two years ago, is actively developing the country’s IT sector. The team of 250, largely consisting of specialists under the age of 35, is actively defending Ukraine’s digital infrastructure to ensure secure crypto transactions.

The Flipside

  • Deputy Minister of Digital Transformation for Ukraine Alex Bornyakov, said that selling donated NFTs to raise funds has been difficult, so far: “There’s no time to figure out how to convert them. Maybe once things settle down, we’ll figure this out,” he stated.


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