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Crypto Donations Are Crucial For Ukraine’s Defense, Says Deputy Minister

The Deputy Minister of Digital Transformation of Ukraine, Alex Bornyakov, has reassured people on Twitter that Ukraine is still crypto-friendly amid the bear market. More importantly, Mr. Bornyakov pointed out that cryptocurrencies are even becoming an inseparable part of Ukraine’s military operations. Vital, in the literal sense, as crypto provides “flexibility and speed that saves our soldiers’ lives” said the government official.

Ukraine’s Defense Efforts Are Counting on Crypto

The Ministry of Digital Transformation of Ukraine has already raised over $60M in financial aid to fund Ukrainian military operations, as well as humanitarian aid. The crypto donations were collected in Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Tether (USDT), Solana (SOL), and USD Coin (USDC).

Other blockchain-related projects like the Freedom Squares NFTs have raised millions for Ukraine. The latest idea powered by the government of Ukraine is the ‘Meta History: Museum of War‘ NFT. In the collection, highlights of the ongoing, bloody war in Ukraine are immortalized as a monument to truth, in contrast to the propaganda allegedly used by the Russian government.

The Ukrainian government has repeatedly expressed its official support for cryptocurrencies since the war began. In contrast, Russia’s Vladimir Putin has officially deemed all cryptocurrencies illegal. The country-wide public ban on crypto in the Russian Federation means that many crypto platforms may come as somewhat of a relief for crypto platforms, which can be assured that they will not be targeted by war-related sanctions.

The Deputy Minister Paints a Bright Picture for Crypto

As Tupac Shakur one said: “Through every dark night, there’s a bright day after that”. Alex Bornyakov seems to have adopted the iconic artist’s philosophy, and doesn’t appear worried about the prolonged crypto winter. “Every “crypto winter” leads to a “crypto spring”, but the industry is here to stay”, reads the politician’s official Twitter profile.

With Ukraine’s arch enemy holding the opposite stance when it comes to crypto, the country’s pro cryptocurrency stance could prove to be a decisive factor in the long run. Ultimately, with Ukraine aiming for victory over its brutal neighbor, the country intends to feature cryptocurrencies & blockchain tech as a staple of its future.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Tadas Klimasevskis is a blockchain journalist and content creator, focusing on the latest tendencies of the crypto world and digging deeper into specific innovations like music NFTs, gaming NFTs and Metaverse. Vast experience in social media lets Tadas quickly spot what’s going on in the crypto industry and deliver a story with a unique spin.