Aid for Ukraine’s $54M crypto fund Buys Military Gears

Aid for Ukraine’s $54M crypto fund Buys Military Gears

The crypto group has come to the rescue with a donation value $54 million in crypto funds via Aid For Ukraine. This has immensely supported the nation’s army efforts in opposition to Russia, Ukraine Deputy Prime Minister Mykhailo Fedorov has revealed. 

According to Fedorov’s tweet wherein he praised the crypt group for its help, the spectacular $54 million in crypto funds have been funneled via the Ukrainian government-run initiative Aid For Ukraine.

According to the Ministry of Digital Transformation of Ukraine, Aid For Ukraine’s $54 million main portion consists of 10,190 Ether (ETH) value $18.7 million, 595 Bitcoin (BTC) value $13.9 million, USD Coin (USDC) value $2.2 million, and Tether (USDT) value $10.4 million.

These quantities have gone towards army tools, {hardware}, and munitions. This consists of $11.8 million value of unmanned aerial automobiles (UAVs). 

A major sum was additionally spent on armor vests at $6.9 million, together with $3.8 million on discipline rations, and $5.2 million on anti-war media campaigns. Moreover, $5 million was additionally spent on weapons of Ukraine’s Ministry of Defense request with many different army and medical equipment.

Last month, Ukraine’s Deputy Minister of Digital Transformation, Alex Bornyakov confirmed his assist and optimism for crypto, saying that it has turn into an important device of Ukraine’s protection.

Aid For Ukraine works by transferring crypto into the crypto trade FTX, which converts it into fiat, and is then transferred to the National Bank of Ukraine. 

Aid for Ukraine isn’t solely a corporation aiding Ukraine in pushing protection efforts. Reserve Fund of Ukraine, UkraineDAO, Come Back Alive, and Unchain Fund have additionally contributed funds in seven-figures however the quantity of crypto-based funds hasn’t been disclosed but.

Compiled by Coinbold

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