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"The better equipped forces, the sooner the day of Ukrainian victory," Fedorov wrote.
After Russia invaded Ukraine in late February, Ukraine began collecting cryptocurrency donations almost immediately. Individuals, crypto donations, NFT sales, and DAOs all contributed tens of millions of cash.
Crypto for good. @_AidForUkraine continues its work for the frontline heroes: 200 sets of ballistic plates of 4 class for bulletproof vests have been sent. The better equipped soldiers — the sooner day of Ukrainian victory. pic.twitter.com/2LisXTUuKq
— Mykhailo Fedorov (@FedorovMykhailo) April 17, 2022
It's unclear how much crypto has been contributed in total to the war effort. Elliptic stopped counting at $63.8 million, instead adding a link to Ukraine's official website, but it's more than $100 million, according to a recent Financial Times report.
Despite fears that Russia could use cryptocurrency to raise funds and/or evade sanctions, Treasury Secretary Janet Yellen said earlier this month that "we haven't observed significant evasion through crypto so far."
Perhaps just to be safe, the European Union imposed a prohibition on "offering high-value crypto-asset services to Russia" a few days later.
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