Ukraine Bought Weapons, Drones With Crypto Donations

The war between Russia and Ukraine caught the eye of the global crypto community, who used their donations to help Ukraine survive and buy military equipment. Recently, Ukraine shared how they spent the funds through crypto donations – mostly on weapons.

Crypto Fund aid for Ukraine (Ministry of Digital Transformation)

Mykhailo Fedorov, Ukraine’s minister for Digital Transformation, tweeted a breakdown on Wednesday of how the government had spent some of the $54 million raised via cryptocurrency. The funds were used to purchase weapons and launch an English news platform. Another $6 million has yet to be spent. 

Ukraine’s significant purchases were UAVs, armour vests, field rations, cars, and military clothing. These items cost the most, with UAVs costing around $11 million and military clothing costing $2.69 million.

Ukraine’s Stance on Being Transparent 

The digital ministry responsible for the crypto donations converted the funds to fiat and sent them to the defence ministry. It was then up to the defence ministry to decide where to invest and what equipment would be required for this war. We are committed to transparency and accountability, and people who donated crypto will be able to see exactly how their donations have been distributed. However, to prevent the occupants from tracking efforts, we have decided not to reveal some sensitive information until we have won the war, Alex Bornyakov, deputy minister of digital transformation of Ukraine, said in the press. 

He added: “We’re not going to give you a comprehensive list of everything we’ve bought, but this is a start. We’re continuing to invest in night vision goggles and bulletproof vests, but we’ve started spending more on fighting propaganda. This is new. We’ve also started spending on a new Ukrainian media outlet, United24, which focuses on English news.

If they don’t have weapons, they will lose the war. With their current equipment, at least they have a fighting chance. Most of the equipment was non-lethal. Ukraine is still trying to defend itself and wants to win the war with as few casualties as possible. So, many of the purchases were for food, vests, night vision goggles, and medicines.

Ukraine’s sharing of how they spent their crypto donations mostly on non-lethal weapons has gotten people thinking. Some people believe they should be a little more aggressive in the war. What are your thoughts? Let us know in the comments below.