- Then a total of $6.9 million was spent on armored vests.
- Elliptic reports that $5 million came from Polkadot co-founder Gavin Wood.
Yesterday, Deputy Prime Minister of Ukraine Mikhailo Fedorov He detailed the use of $54 million in cryptocurrency contributions. The most expensive item was unmanned aerial vehicles (or drones), which were valued at $11.8 million. Then $6.9 million was spent on armored vests, while $5.8 million was earmarked for IT infrastructure and applications.
They claim that since the start of the Russian invasion of Ukraine, more than $54 million has been contributed in cryptocurrency. Aid for Ukraine, a non-profit organization, coordinated donations for Ukrainian military and humanitarian organizations. The organization was backed by a cryptocurrency exchange FTXand Everstake, Kuna, and the Ukrainian Ministry of Digital Transformation.
Encryption plays a role
Since the beginning of the invasion, cryptocurrency has played a vital role by providing individuals around the world with a means of financial assistance in the Ukrainian struggle. Bitcoin, Ethereum, and Polkadot addresses were tweeted contributions to “Standing Up With the People of Ukraine” by the Ukrainian government on February 26. And there was a total of $50 million in cryptocurrency contributions sent to the government a week later.
Elliptic reports that $5 million came from Polkadot co-founder Gavin Wood, $200,000 came from CryptoPunk, and $1.26 million came from the sale of NFT by Julian Assange and digital artist Buck.
Aid to Ukraine received $2.5 million in Ethereum from Russian-Canadian Ethereum co-founder Vitalik Buterin, which the organization said was enough for 31,000 medical kits, 364,000 medical supplies, and 585 kits and radio stations for the Ukrainian army.
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