The Deputy Prime Minister of Ukraine, Mykhailo Federov, has expressed his immense gratitude to the crypto community for donating $54 million worth of crypto via Aid For Ukraine to fund the country’s military struggle against Russia. He said:
“Every 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!”
The Ministry of Digital Transformation of Ukraine said that most of the funds received from Aid For Ukraine came in the form of Ethereum, Bitcoin, Tether, and USD Coin. The Deputy Minister of the Ministry, Alex Bornyakov said: “Crypto is playing a significant role in Ukraine’s defense.”
The money was spent on lots of military equipment such as hardware, munitions, armor vests, field rations, vehicles, anti-war media campaigns, medical equipment, “weapons of the (Ukraine) Ministry of Defence request”, and unmanned aerial vehicles (UAVs).
Blockchain technology, it seems, can have a significant influence on the world as stated by Mike Chobanian, the founder of KUNA, a crypto exchange based in Ukraine. He said that this technology could work as a “backbone of global security”.
While Aid For Ukraine has been doing an excellent job so far with raising and converting donations into fiat money, there are other organizations out there also trying to help the cause such as the Reserve Fund of Ukraine, Come Back Alive, UkraineDAO, and Unchain Fund.