$54 million in crypto donations to the ‘Aid for Ukraine’ campaign saved the lives of soldiers defending the country against invasion by Russia.
The initiative transfers crypto into crypto exchange FTX, which converts it into fiat before it is withdrawn and transferred to the National Bank of Ukraine.
The crypto payments have funded military equipment, hardware and munitions, including $11.8 million worth of unmanned aerial vehicles to spot enemy troops; $6.9m on armoured vests; $3.8m on field rations; $5.2m on anti-war media campaigns; $5m on weapons; plus other military and medical accessories.
“Every helmet, bulletproof vest, and night vision device save the lives of Ukrainian soldiers,” said Ukraine’s Deputy Prime Minister Mykhailo Fedorov.
“Thus, we must continue to support our defenders. Thanks so much to everyone from the crypto community for supporting Ukraine!”
With $54 M raised by @_AidForUkraine, 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
— Mykhailo Fedorov (@FedorovMykhailo) August 17, 2022
Other campaigns which have generated millions of dollars of support include Reserve Fund of Ukraine, Come Back Alive, UkraineDAO and Unchain Fund.