The Ukrainian government has received $60 million donated after Russia invaded its country earlier this year. bitcoin and cryptocurrency announced that it has purchased weapons, unmanned aerial vehicles (UAVs) and digital riflescopes, as well as some non-lethal vehicles.
Ukraine’s Minister of Digital Transformation, Mykhailo Fedorov, tweeted on Wednesday that the government is using some of the $54 million worth of funds raised through cryptocurrencies to purchase deadly weapons and launch an English-language news platform.
The other $6 million has yet to be spent.
Ukraine’s donation website confirms purchases of drones and deadly weapons, but the numbers displayed differ from Fedorov’s calculation.
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
Ukraine’s Buying Deadly Weapons with Cryptocurrency Donations Creates Controversy
When asked about their previous statement that they will only purchase non-lethal weapons through crypto donations, Bornyakov said:
“We (Ministry of Digital Transformation) exchanged the crypto and sent it to our Ministry of Defense. They decided they needed something (lethal weapons) too. We are at war and we can defend ourselves in any way possible.”
The Russian invasion of Ukraine in February prompted the country to launch multiple fundraisers to strengthen its defense and equipment using cryptocurrencies in an unprecedented way.
The statement also confirmed what government officials had said earlier about using crypto donations to purchase drones, medical kits for soldiers, and thermal cameras.
Bornyakov said in a statement that more than $5 million spent on “weapons requested by the Department of Defense” were “deadly weapons”.
Bornyakov said that due to the ongoing conflict, the Ministry did not share what types of deadly weapons it purchased using crypto.
“We do not want to inform Russia what deadly weapons we are buying,” Bornyakov said.
This contrasts sharply with Ukraine’s original breakdown of how it spends its funds; Authorities initially stated that they only used crypto funds to purchase non-lethal equipment.
*Not investment advice.
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