Ukraine has received close to $100M in crypto donations

According to Ukraine’s deputy minister of digital transformation, the president “shares our perspective” that the usage of cryptocurrency might be an “economic breakthrough.”

According to Alex Bornyakov, Ukraine’s deputy minister at the Ministry of Digital Transformation and the government’s de facto cryptocurrency spokesperson, the country has received “around $100 million” in bitcoin donations.

Bornyakov stated during an emergency online briefing titled “Digital Resistance: How Ukraine is Using Technology to Fight for Freedom” that more than $60 million of the $100 million had been received in the main fund managed by Kuna, the Ukrainian cryptocurrency exchange. The remainder of the monies have been transferred to a number of smaller funds, Bornyakov indicated.

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In response to a CoinDesk question about whether Ukrainian President Volodymyr Zelensky had an opinion on the role of cryptocurrency in the war, Bornyakov stated that while Zelensky has not specifically mentioned the crypto fund, he “shares our vision” that the use of cryptocurrency could be a “breakthrough from an economic standpoint,” and that “we have the president’s full support at this point.”

Asked if there had been any communication between the United States government and Ukraine regarding the use of cryptography in this conflict, Bornyakov said that he was unaware of any such communication.

Bornyakov reiterated his plea on Tuesday’s “First Mover” episode of CoinDesk TV that crypto firms suspend services to Russian users as part of an unprecedented effort to isolate Russia from the global financial system.

The monies received to Kuna are purportedly being used to purchase non-lethal supplies such as petrol, food, and bulletproof vests for soldiers, according to an interview last week with Kuna’s founder Michael Chobanian.

Also Read: How to: Calculate your crypto taxes

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