In keeping with the Ukrainian Deputy Prime Minister, the crypto group has donated an astonishing $54 million by means of Support For Ukraine to help the nation’s army actions in opposition to Russia, Cointelegraph famous.
In keeping with Ukraine’s Deputy Prime Minister Mykhailo Fedorov’s Twitter put up, the $54 million was channeled by means of the Ukrainian government-run challenge Support For Ukraine. Fedorov praised the crypto group for his or her help.
“Each helmet, bulletproof vest, and night time imaginative and prescient machine save the lives of Ukrainian troopers. Thus, we should proceed to help our defenders. Thanks a lot to everybody from the crypto group for supporting Ukraine,” tweeted Fedorov.
Nearly all of the $54 million in help for Ukraine, in accordance with the Ukrainian Ministry of Digital Transformation, got here within the type of 10,190 Ether (ETH), valued at $18.7 million, 595 Bitcoin (BTC), valued at $13.9 million, Tether (USDT), valued at $10.4 million, and USD Coin (USDC), valued at $2.2 million.
Unmanned aerial autos (UAVs), that are continuously used to establish enemy forces and plan assaults, value $11.8 million and had been bought with cryptocurrency funds for army gear, weapons, and different provides. The donations included $6.9 million for armour vests, $3.8 million for discipline rations, $5.2 million for media campaigns opposing the battle, and $5 million for “weapons of the [Ukraine] Ministry of Protection request,” amongst different army and medical provides, famous Cointelegraph.
“Crypto is enjoying a big function in Ukraine’s protection,” mentioned Deputy Minister of Digital Transformation of Ukraine Alex Bornyakov.
Creator of the Ukrainian cryptocurrency alternate KUNA In keeping with Mike Chobanian, the contributions from the cryptocurrency group have demonstrated the affect that blockchain expertise might have on nation-states, and in emergency conditions, it may well function because the “spine of worldwide safety.”
Support For Ukraine operates by depositing cryptocurrency into the fiat cryptocurrency alternate FTX, which subsequently withdraws and transfers the funds to the Nationwide Financial institution of Ukraine.
(With insights from Cointelegraph)
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