The war in Ukraine is now in its sixth month. After a change of strategy, the Russian armed Forces are now focused on the conquest of the East and South. However, Ukraine opposes it, shelled a Russian airbase in Crimea in recent weeks and destroyed an ammunition depot on the Russian-occupied peninsula.
The attack on Ukraine unleashed a wave of solidarity around the world. In a short time, the war-torn country collected millions of donations – including from the crypto space. For this purpose, the government in Kiev set up its own wallet addresses to which donations could be made in Bitcoin, Ethereum and co. How exactly cryptocurrencies helped the Ukrainians against Russia’s war of aggression, you can read in the April issue of BTC-ECHO magazine.
Apart from the state donation addresses, NGO projects such as AidForUkraine were also the focus of the reporting. For the latter, Ukrainian Digital Minister Mykhailo Fedorov has now published a list on Twitter showing how Ukraine invested the funds.
Drones make up the largest asset
On the official website of the donation project, AidForUkraine states that it has raised a total of about 60 million US dollars in cryptocurrencies. However, the figures are from mid-April, which is why the timeliness can be doubted. Michael Chobanian, founder of the Ukrainian crypto exchange Kuna and one of the main managers of the project assured BTC-ECHO that the figures would be updated “in the coming weeks”.
Until then, the Ukrainian government estimates the expenditure at almost 54.6 million US dollars. By far the largest asset was the acquisition of reconnaissance drones. For about $ 12 million, Kiev received 213 so-called “UAVs”.
In addition, almost 7 million US dollars were spent on armored vests. Another 6 million were invested in computer technology and about 5 million US dollars each went to the Ministry of Defense as well as the worldwide anti-war media campaign.
Fedorov expressed his gratitude to the crypto community. The support would help ”donation by donation to the great victory,” according to the digital minister.
Willingness to donate to Ukraine is decreasing
Recently, however, the willingness to donate has drastically decreased, says Michael Chobanian to BTC-ECHO. General war fatigue as well as the effects of the crypto winter would have made investors tighten their wallets more tightly. AidForUkraine hardly recorded any more donations.