Ukraine Uses Nearly All Its Crypto To Strengthen Military
Through its primary source, United24, launched by President Volodymyr Zelenskyy.
With the invasion by Russia carrying on, cryptocurrency and technology have become a major role in Ukraine’s defense. On Wednesday, August 17, the Vice Prime Minister of Ukraine, Mykhailo Fedorov, gave an update on where the majority of the country’s crypto donations were being spent.
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
Items on the list ranged from helmets to helicopters — other equipment that has become paramount to the country’s defense has been unmanned drones, from full-size UAVs to smaller DJI drones.
Unmanned aerial vehicles continue to arrive at the front, strengthening the Army of Drones!
The 72nd Brigade, named after the Black Zaporozhians, received a DJI Matrice 300 drone. It will help the Ukrainian military in Donbass.#united24 #dronate pic.twitter.com/BqWRRZQVFz
— U24 (@U24_gov_ua) August 14, 2022
The first helicopter purchased by donations from @U24_gov_ua is handed to Armed Forces of Ukraine. Mi-2 AM-1 is modernized with advanced medical equipment to save lives of both injured, military and civilians. Thanks to people from 110 countries for joining the fundraising! pic.twitter.com/2nn16udDYx
— Mykhailo Fedorov (@FedorovMykhailo) August 18, 2022
While 90% of U24’s funds have been dedicated to a much needed bolstering of the Ukrainian military, there have been a number of other campaigns that have set public medical care and well being as primary goals.
One of the most recognizable in the Web3 space is Andrew Wang’s Reli3f fund which utilized NFTs to raise over $1 million USD upon its launch and is still raising today. Contributing artists who donated their works for the cause include names like Clon from Cool Cats, Vinnie Hager, and more.
This is a short thank you from Andrey to everyone who supported our fundraising.
Andrey is a surgery doctor in Bucha & with our support they have been able to help treat 30+ people who were seriously wounded.
You have made a difference with your contributions ?? pic.twitter.com/spJYSxOWGD
— RELI3F (@reli3fxyz) May 12, 2022
Additionally, Pussy Riot’s co-founder and activist Nadya Tolokonnikova launched a decentralized autonomous organization (DAO), called the Ukraine DAO, which has raised over $7 million USD in the last six months, bringing much needed humanitarian aid to the Ukrainian people.
During the conflict’s peak, there were also reports of people fleeing their homes with nothing but their hardware wallets, stating that if it weren’t for crypto they would have lost everything.
While Vice Prime Minister Fedorov reminds the world that the war is not over, crypto and Web3 technology have given Ukraine a fighting chance and potentially an edge in restoring their freedom to their home.
In other news, the U.S. aims to centralize decentralization.