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Ukraine has Raised $50 Million in Crypto Donations

Hassan Mehmood

ByHassan Mehmood

Mar 19, 2022

Ukraine has been marked as the poorest European country by media outlets. However, the EU and the United States have gathered a massive amount of donations in the form of cryptocurrencies and sent them to the country. In this manner, the country has managed to receive around $50 million in donations through different crowdfunding platforms.

Ukraine to Buy Military Supplies with Donated Cryptocurrencies

The Ukrainian government is spending around $15 million on purchasing military supplies. The government recently reported that the amount is dedicated for the acquisition of defensive supplies like night vision goggles, military savvy food ration, medical supplies, and night-vision goggles, among other things. The update was shared by Deputy Minister of Digital Transformation Alex Bornyakov, who conducted a Zoom press conference from an undisclosed location.

While the people of Ukraine are suffering from a lack of security and banking accessibility, the Vice PM of the country is sure that the state can collect more funds. At press time, the total funds in the form of cryptocurrencies for Ukraine relief have reached $64.6 million. One of the noteworthy donations was the auction money for an NFT called CryptoPunk, which raised $43,000 in 2021.

Meanwhile, deputy VP and Minister of Digital Transformation MyKhalio Fedorov claimed recently that he is expecting the total donations to reach $100 million this week. On the other hand, there are students and diplomats stuck from other nations that the Ukrainian government has failed to evacuate safely. Furthermore, the citizens are unable to access their bank accounts, as noted by several media outlets.

While the citizens of Ukraine are stranded in the country, the Vice PM of Ukraine is busy collecting funds and spending heavily on military equipment. Fedorov has also sent requests to all major European and American companies to blacklist Russian users. He has managed to reach out to companies like Oracle, Apple, Netscout, Hitachi, Amazon, SAP, Figma, and Microsoft, among others.

Financial mogul VISA and MasterCard have already suspended their services for Russian citizens. Fedorov has now reached out to UnionPay to follow suit and implement a harsh social boycott for the entire country. He claimed in his plea to UnionPay authorities that the Russian military is invading villages, natives, women, and children through airstrikes and missiles.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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