Aid for Ukraine’s crypto donations that people have made since the war started, and that has reached the amount of $54 million, will be used by Ukraine’s government to buy much-needed military gear.

Aid For Ukraine’s Crypto Donations Of $54M

The crypto community has given an astounding $54 million through Aid For Ukraine, according to the Ukrainian Deputy Prime Minister, to support the country’s military operations against Russia.

According to Ukraine’s Deputy Prime Minister Mykhailo Fedorov’s Thursday Twitter post, the $54 million was channeled through the Ukrainian government-run project Aid For Ukraine. Fedorov praised the crypto community for their assistance.

“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!”

What Did It Comprise Of?

The Ministry of Digital Transformation (UMDT) reported that the donations comprised of:

• 10,190 Ether (ETH), worth $18.7 million
• 595 Bitcoin (BTC), worth $13.9 million
• Tether (USDT), worth $10.4 million
• USD Coin (USDC), worth $2.2 million

The gifts included:

• $6.9 million for armor vests,
• $3.8 million for field rations,
• $5.2 million for media campaigns against the conflict,
• $5 million for weapons requested by the Ministry of Defense and other supplies.

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

According to Alex Bornyakov, deputy minister of Ukraine’s digital transformation, crypto is playing a crucial role in the defense of Ukraine.

Thoughts From KUNA Creator And Other Facts

KUNA’s founder Mike Chobanian, which is a cryptocurrency exchange in Ukraine is reported to have said that the community’s efforts have shown how blockchain may have an effect on nation-states and how it might serve as a foundation of global security in times like these.

By putting bitcoin into the fiat cryptocurrency exchange FTX, which then withdraws and sends the money to the National Bank of Ukraine, Aid For Ukraine runs.

Aid For Ukraine is not the only organization sponsoring Ukrainian defense initiatives, though. The Reserve Fund of Ukraine, Come Back Alive, UkraineDAO, and Unchain Fund have also contributed in the amount of around the seven figures. The full amount is not publicized. It is reported that the amount of donations stopped being publicized from March of this year.

Read the latest crypto news.