“Crypto for good,” said Mykhailo Fedorov, Ukraine’s vice prime minister and minister of digital transformation, in a tweet thanking individuals who donated to the crypto charity Aid for Ukraine. Aid to Ukraine’s frontline heroes is still being supported: For bulletproof vests, 200 sets of 4 class ballistic plates have been provided. The better prepared the military is, the sooner Ukraine will be victorious.
The Ukrainian government approved Aid for Ukraine, a decentralized autonomous organization (DAO) in conjunction with blockchain provider Everstake and crypto trading business FTX, to collect cryptocurrencies for the defense effort just days after the Russian invasion began.
Fedorov, 31, devised the scheme in haste when he told his deputy to set up official government wallets that could accept cryptocurrency payments, a plan that quickly evolved into the Aid for Ukraine website, which accepts donations in nine cryptocurrencies including bitcoin, ether, tether, Solana, and dogecoin.
The Ukrainian government has spent half of the more than $100 million in crypto fundraising as of March 19 on hundreds of protective jackets, food rations, helmets, and medical supplies, purposefully choosing non-lethal items to avoid discouraging potential donations.
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