Cryptocurrency

Ukraine Uses Nearly All Its Crypto To Strengthen Military

Through its primary source, United24, launched by President Volodymyr Zelenskyy.

Cryptocurrency

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.

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.

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.


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.

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