The crypto community has put within an impressive $54 million price of crypto funds through “Aid For Ukraine,” targeted at supporting the nation’s military efforts against Russia, the Ukrainian Deputy Pm has revealed.
The $54 million continues to be funneled in with the Ukrainian government-run initiative ‘Aid For Ukraine’, based on Ukraine’s Deputy Pm Mykhailo Fedorov’s Twitter publish on Thursday, who thanked the crypto community for his or her support:
“Every helmet, bulletproof vest, and night vision device save the lives of Ukrainian soldiers. Thus, we have to still support our defenders. Thanks a lot to everybody in the crypto community for supporting Ukraine!”
Based on the Secretary of state for Digital Transformation of Ukraine, Aid For Ukraine’s $54 million has mostly are available in the form of 10,190 Ether (ETH), worth $18.seven million, 595 Bitcoin (BTC), worth $13.9 million, Tether (USDT) worth $10.4 million and USD Gold coin (USDC), worth $2.two million.
The crypto payments go towards military equipment, hardware, and munitions, including $11.8 million price of unmanned aerial vehicles (UAVs), that are typically accustomed to place enemy troops and direct attacks.
A substantial amount of the donations seemed to be allocated to armor vests at $6.9 million, together with $3.8 million on field rations, $5.two million on anti-war media campaigns, and $5. million on “weapons from the [Ukraine] Secretary of state for Defense request”, among other military and medical accessories.
With $54 M elevated by @_AidForUkraine, we have provided our defenders with military equipment, armor clothes, medicines as well as vehicles. Because of the crypto community for support since the beginning of the entire-scale invasion! Donation by donation towards the big victory. Report below. pic.twitter.com/lifHAP8R4f
— Mykhailo Fedorov (@FedorovMykhailo) August 17, 2022
“Crypto is playing a substantial role in Ukraine’s defense”, stated Deputy Minister of Digital Transformation of Ukraine Alex Bornyakov around the government-tied donatiowebsite.
Founding father of Ukrainian-based crypto exchange KUNA Mike Chobanian added the contributions in the crypto community have proven the outcome that blockchain technology might have on nation-states, stating that it may function as a “backbone of worldwide security” in occasions of need.
Aid For Ukraine functions by transferring crypto in to the crypto exchange FTX, which converts crypto into fiat, and it is then withdrawn and used in the nation’s Bank of Ukraine.
Related: Ukraine has gotten $37M in tracked crypto donations to date
But Aid For Ukraine isn’t the only real organization consuming funds to help Ukrainian defense efforts. Reserve Fund of Ukraine, Return Alive, UkraineDAO and Unchain Fund also have contributed funds within the seven-figure range, although the quantity of crypto-based funds they’ve drawn in hasn’t been disclosed since March.
