Ukraine has received at least $100 million in crypto donations since Russia invaded, according to a recent report.
Ukrainian deputy prime minister shares photo of new military equipment
The Ukrainian Deputy Prime Minister and Minister of Digital Information, Mykhailo Fedorov, shared a photo of what it spends the crypto donations on Sunday. This includes 200 ballistic plates for bulletproof vests.
“The better the soldiers are equipped, the faster the Ukrainian victory.” According to Fedorov.
Ukraine started almost immediately after the invasion of Russia with accepting crypto donations. Tens of millions of dollars poured in. These donations came from individuals, crypto exchanges, NFT sales and DAOs, among others.
Crypto for good. @_AidForUkraine continues its work for the frontline heroes: 200 sets of ballistic plates of 4 class for bulletproof vests have been sent. The better equipped soldiers — the sooner day of Ukrainian victory. pic.twitter.com/2LisXTUuKq
— Mykhailo Fedorov (@FedorovMykhailo) Apr 17, 2022
It is not clear exactly how much crypto has been donated to the country in total. elliptical stopped counting at $63.8 million. The blockchain analytics firm instead added a link to the official site from Ukraine. According to a recent report by the Financial Times however, it is over $100 million.
While concerns have been raised that Russia could similarly fundraise and/or evade sanctions with crypto, US Treasury Secretary Janet Yellen said earlier this month that no significant evasion has been seen so far.” The European Union introduced a few days later a ban on “providing high-quality crypto services to Russia”.