Ukraine’s vice prime minister and minister of digital information, Mykhailo Fedorov, on Sunday shared a photo of what the war-torn nation is spending crypto donations on: 200 sets of ballistic plates for bulletproof vests.
“The better equipped soldiers,” wrote Fedorov, “the sooner day of Ukrainian victory.”
Crypto for good. @_AidForUkraine continues its work for the frontline heroes: 200 sets of ballistic plates of 4 class for bulletproof vests have been sent. The better equipped soldiers — the sooner day of Ukrainian victory. pic.twitter.com/2LisXTUuKq
It’s not clear precisely how much total crypto has been donated to the war effort. Elliptic stopped counting at $63.8 million—the blockchain analytics firm instead added a link to Ukraine’s official site—but according to a recent Financial Times report, it’s more than $100 million.
Although concerns were raised that Russia could similarly raise funds and/or dodge sanctions with crypto, Treasury Secretary Janet Yellen said earlier this month that “we haven’t seen significant evasion through crypto so far.”
Perhaps just to be safe, the European Union a few days later introduced a ban on “providing high-value crypto-asset services to Russia.”
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