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Ukraine Spent $54M in Crypto on Drones and Other Military Expenses
The Vice Prime Minister of Ukraine said that the country spent its crypto donations on drones and military software among other expenses.
Mykhailo Fedorov, Ukraine’s Vice Prime Minister, shared yesterday how $54 million of the country’s crypto donations have been spent.
Unmanned aerial vehicles (or drones) were the highest cost at $11.8 million. After that, the country spent $6.9 million on armored vests and $5.7 million on computer hardware and software.
“Thanks to the crypto community for support since the start of the full-scale invasion," Fedorov tweeted.
Over $60 million of crypto donations have been donated since Russia began its invasion of Ukraine, according to the organization.
The donations were facilitated by Aid For Ukraine, a non-profit organization powered by crypto exchange FTX, Everstake, Kuna, and the Ministry of Digital Transformations of Ukraine, supporting both humanitarian efforts and the Armed Forces of Ukraine.
Decrypt has yet to receive a reply for more information from Aid for Ukraine and the Ministry of Digital Transformation.Ukraine Spent $54M in Crypto on Drones and Other Military Expenses
The Vice Prime Minister of Ukraine said that the country spent its crypto donations on drones and military software among other expenses.
Emily Tonelli
By Emily Tonelli
Aug 18, 2022
2 min read
Tanks in Kyiv, Ukraine. Image: Shutterstock
Tanks in Kyiv, Ukraine. Image: Shutterstock
Mykhailo Fedorov, Ukraine’s Vice Prime Minister, shared yesterday how $54 million of the country’s crypto donations have been spent.
Unmanned aerial vehicles (or drones) were the highest cost at $11.8 million. After that, the country spent $6.9 million on armored vests and $5.7 million on computer hardware and software.
A purple chart with black letters.
Overview of crypto fund spending. Source: Twitter.
“Thanks to the crypto community for support since the start of the full-scale invasion," Fedorov tweeted.
Over $60 million of crypto donations have been donated since Russia began its invasion of Ukraine, according to the organization.
The donations were facilitated by Aid For Ukraine, a non-profit organization powered by crypto exchange FTX, Everstake, Kuna, and the Ministry of Digital Transformations of Ukraine, supporting both humanitarian efforts and the Armed Forces of Ukraine.
Decrypt has yet to receive a reply for more information from Aid for Ukraine and the Ministry of Digital Transformation.
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