The Russia-Ukraine war got Ukraine a lot of crypto donations from all around the world. It was to help them survive the war with Russia and buy all the necessary military equipment and other required items. So, recently Ukraine shared how they spent the funds that came in through crypto donations which shows that mostly it was on weapons.
Ukraine’s spending summary of crypto donations
The main purchases Ukraine made were UAVs, armor vests, field rations, cars, military clothing, etc. These items cost the most, from about $11 million being spent on UAVs (drones) to $2.69 million on military clothing. The total that was spent on military equipment and other related items was $54.57 million. Ukraine still has another $6 million that is yet to be spent on military equipment.
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
The digital ministry that handled the crypto donations converted it to fiat and sent the funds to the defense ministry. After that, it was up to them to decide where they wanted to invest and what equipment was required for this war. Ukraine has to survive this at all costs, and they need proper weapons to do so. So, almost $5 million was spent on lethal weapons that could be useful in the war.
A minister from the digital transformation ministry of Ukraine also shared that lethal weapons are defensive and not offensive. However, he didn’t share any further details as they didn’t want to let Russia in on the information.
Transparency
Ukraine understands that the people have donated so much through crypto that they would want to know how the funds are being spent. That is why they shared what they had bought and the exact amounts spent on everything. Ukraine spent its crypto donations mostly on weapons, but that is expected because of the current situation.
Without weapons, they will lose the war; at least now they have a fighting chance. And again, most of it was non-lethal equipment. Ukraine is still on the defensive and wants to win this war with as few casualties as possible. So, a lot of bulk purchases were food, vests, night vision specs, and medicines.
What are your thoughts as Ukraine shares how they spent their crypto donations mostly on non-lethal weapons? And do you think they should be a little more aggressive in the war? Let us know in the comments below. And, if you found our content informative, share it with your friends.
Also Read: Binance to start offering its services in Kazakhstan.
