Ukraine receives over $50 million in crypto donations, with 40% of Western suppliers willing to trade military supplies through crypto transactions.

Ukrainian Deputy Prime Minister and Minister of Digital Transformation, Mykhailo Fedorov, stated on Twitter that the Ukrainian government has raised $50 million in cryptocurrency within a week. Of this amount, $15 million is allocated for the purchase of military supplies.

Mykhailo Fedorov stated on Twitter that Ukraine's cryptocurrency fund raised $50 million within a week, "Putin's infringement on freedom and democracy brought incredible unity. The goal for this week is $100 million. We will win!"

According to Bitcoin.com, Mykhailo Fedorov mentioned that the Ministry of Digital Transformation has identified suppliers of military equipment in the United States and Europe, including vests, food packs, bandages, night vision devices, etc. $15 million of the crypto donations have been used to purchase these military supplies, which have already been delivered to the military.

Mykhailo Fedorov stated that about 40% of the suppliers are willing to accept cryptocurrency payments, while the rest convert the cryptocurrency into euros or dollars for payment. The cryptocurrency raised by the Ukrainian government is mainly in Bitcoin and Ethereum. Mykhailo Fedorov is optimistic that donations will double from $50 million to $100 million.

In addition to cryptocurrency, Ukraine initially planned to airdrop tokens, but many scams emerged. Mykhailo Fedorov later announced the suspension of the token airdrop option and opted to issue NFTs. Some have also donated Cryptopunks. Mykhailo Fedorov mentioned that Ukraine will temporarily hold them as there is no time to figure out how to convert them."

This article is reprinted with permission from Horizon News Network