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Ukraine has revealed how it has been spending the crypto donations sent to support its resistance against Russia's invasion. Alex Bornyakov, Ukraine's deputy minister in the Ministry of Digital Transformation and the de facto crypto spokesperson for the government, shared the details in a tweet on Friday.
- From March 1, the war-torn nation has used crypto donations to buy 5,500 bulletproof jackets, 410,000 packed lunches, 500 ballistic plates for bulletproof vests, 3,125 thermal imagers and optics, 500 helmets, 3,427 medicines and 60 walkie-talkies, according to Bornyakov.
- "Crypto-assets proved extremely helpful in facilitation of funding flows to the Armed Forces of Ukraine," Bornyakov noted. "Huge thanks to everyone who donated to the Crypto Fund of Ukraine. Each and every helmet and vest bought via crypto donations is currently saving Ukrainian soldiers' lives," he said.
- Bornyakov revealed this week that Ukraine has received close to $100 million in crypto donations, and the funds have been used to buy non-lethal military equipment, among other things.
- Bornyakov had earlier told CoinDesk that some of Ukraine’s weapons suppliers are accepting payments directly in crypto but that he could not reveal what military equipment was being bought because of national security concerns.
The “Week in Review” panel examines the increasingly prevalent role of cryptocurrency in Ukraine’s efforts against Russia after the Ministry of Digital Transformation publicized how crypto donations are being used for non-lethal supplies like medicine and packed lunches. Plus, a discussion on BTC’s price volatility over the past few weeks and the upcoming shift in bitcoin’s hashrate.
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