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The crypto community has poured in an impressive $54 million worth of crypto funds through \u201cAid For Ukraine,” aimed at supporting the country’s military efforts against Russia, the Ukrainian Deputy Prime Minister has revealed.\u00a0<\/p>\n
The $54 million has been funneled in through the Ukrainian government-run initiative ‘Aid For Ukraine’, according to Ukraine’s Deputy Prime Minister Mykhailo Fedorov\u2019s Twitter<\/a> post on Thursday, who thanked the crypto community for their support:<\/p>\n \u201cEvery helmet, bulletproof vest, and night vision device save the lives of Ukrainian soldiers. Thus, we must continue to support our defenders. Thanks so much to everyone from the crypto community for supporting Ukraine!\u201d<\/p><\/blockquote>\n According to the Ministry of Digital Transformation of Ukraine, Aid For Ukraine\u2019s $54 million has mostly come in the form<\/a> of 10,190 Ether (ETH<\/a>), worth $18.7 million, 595 Bitcoin (BTC<\/a>), worth $13.9 million, Tether (USDT<\/a>) worth $10.4 million and USD Coin (USDC<\/a>), worth $2.2 million.<\/p>\n The crypto payments have gone towards military equipment, hardware, and munitions, including $11.8 million worth of unmanned aerial vehicles (UAVs), which are typically used to spot enemy troops and direct attacks.\u00a0<\/p>\n A significant sum of the donations was also spent on armor vests at $6.9 million, along with $3.8 million on field rations, $5.2 million on anti-war media campaigns, and $5.0 million on \u201cweapons of the [Ukraine] Ministry of Defense request\u201d, among other military and medical accessories.\u00a0<\/p>\n With $54 M raised by @_AidForUkraine<\/a>, we’ve supplied our defenders with military equipment, armor clothes, medicines and even vehicles. Thanks to the crypto community for support since the start of the full-scale invasion! Donation by donation to the big victory. Report below. pic.twitter.com\/lifHAP8R4f<\/a><\/p>\n \u2014 Mykhailo Fedorov (@FedorovMykhailo) August 17, 2022<\/a><\/p><\/blockquote>\n \u201cCrypto is playing a significant role in Ukraine\u2019s defense\u201d, said<\/a> Deputy Minister of Digital Transformation of Ukraine Alex Bornyakov on the government-tied donatiowebsite.<\/p>\n Founder of Ukrainian-based crypto exchange KUNA Mike Chobanian added that the contributions from the crypto community have shown the impact that blockchain technology can have on nation-states, stating that it can serve as a \u201cbackbone of global security\u201d in times of need. <\/p>\n Aid For Ukraine works by transferring crypto into the crypto exchange FTX, which converts crypto into fiat, and is then withdrawn and transferred to the National Bank of Ukraine.<\/p>\n Related: <\/em><\/strong>Ukraine has received $37M in tracked crypto donations so far<\/em><\/strong><\/a><\/p>\n\n