HomeNewsAid for Ukraine's $54M crypto fund buys vests, scopes, and UAVs

Aid for Ukraine’s $54M crypto fund buys vests, scopes, and UAVs


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Aid for Ukraine's $54M crypto fund buys vests, scopes, and UAVs
PHOTO CREDIT: coinscreed.com

The crypto team has poured in a brave $54 million worth of crypto funds by “Reduction For Ukraine,” geared against supporting the nation’s militia efforts against Russia, the Ukrainian Deputy Top Minister has revealed.

The $54 million has been funneled in by the Ukrainian executive-escape initiative ‘Reduction For Ukraine’, in accordance with Ukraine’s Deputy Top Minister Mykhailo Fedorov’s Twitter submission on Thursday, who thanked the crypto team for his or her make stronger:

“Every helmet, bulletproof vest, and evening vision application place the lives of Ukrainian soldiers. Thus, we must always continue to enhance our defenders. Thanks so grand to each person from the crypto team for supporting Ukraine!”

In conserving with the Ministry of Digital Transformation of Ukraine, the Reduction Of Ukraine’s $54 million has largely near within the development of 10,190 Ether (ETH), worth $18.7 million, 595 Bitcoin (BTC), worth $13.9 million, Tether (USDT) worth $10.4 million and USD Coin (USDC), worth $2.2 million.

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The crypto funds have gone against militia equipment, hardware, and munitions, including $11.8 million worth of unmanned aerial vehicles (UAVs), which would be in most cases used to convey enemy troops and direct attacks.

A significant sum of the donations was furthermore spent on armor vests at $6.9 million, along with $3.8 million on field rations, $5.2 million on anti-battle media campaigns, and $5.0 million on “weapons of the [Ukraine] Ministry of Defense set a question to”, amongst different militia and medical equipment.

With $54 M raised by @_AidForUkraine, now we have supplied our defenders with militia equipment, armor garments, medicines and even vehicles. Attributable to the crypto team for make stronger since the commence of the total-scale invasion! Donation by donation to the wide victory. File beneath. pic.twitter.com/lifHAP8R4f

— Mykhailo Fedorov (@FedorovMykhailo) August 17, 2022

“Crypto is taking half in a significant position in Ukraine’s protection”, acknowledged Deputy Minister of Digital Transformation of Ukraine Alex Bornyakov on the manager-tied donation website.

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Founding father of Ukrainian-based completely crypto change KUNA Mike Chobanian added that the contributions from the crypto team have shown the impression that blockchain technology can have on nation-states, stating that it will motivate as a “spine of global security” in cases of need.

Reduction For Ukraine works by transferring crypto into the crypto change FTX, which converts crypto into fiat, and is then withdrawn and transferred to the Nationwide Monetary institution of Ukraine.

But Reduction For Ukraine isn’t the finest organization taking in funds to abet Ukrainian protection efforts. Reserve Fund of Ukraine, Come Encourage Alive, UkraineDAO and Unchain Fund have furthermore contributed funds within the seven-figure range, though the quantity of crypto-based complete funds they’ve taken in hasn’t been disclosed since March.

Disclaimer: This article is for informational capabilities only. It is no longer an immediate offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any merchandise, services, or companies. We no longer provide funding, tax, neatly suited, or accounting advice. Neither the corporate nor the author is guilty, straight or no longer straight, for any injury or loss precipitated or speculated to be precipitated by or in connection with the usage of or reliance on any insist, items, or services mentioned in this text.

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