Crypto Donations in Ukraine Already Over $100 Million

Crypto Donations in Ukraine Already Over 0 Million

So says Alex Bornyakov, Ukrainian deputy of the Ministry of Digital Transformation and unofficial government spokesperson on cryptography. More than $108 million worth of cryptocurrencies was donated to various recipients yesterday, according to Cointelegraph. These include the official Bitcoin and Ethereum wallets of the Ukrainian government and the NGO Come Back Alive.

According to Bornyakov, 60 million were deposited into the country’s official portfolios. The rest was divided among several smaller funds. Ukraine will use the money to purchase essential supplies for civilians and help with evacuations, among other things. The other part goes to the army.

Cryptocurrencies are digital currencies based on blockchain technology. According to Bornyakov, its use could result in an ‘economic breakthrough’. Ukrainian President Volodymyr Zelensky is also said to share this view.

Source: RTL