Crypto for Ukraine ensures a steady flow of war-related aid

Ukraine, which has fought back tenaciously against Russian invasion, claims to have pioneered a new source of financial support: people all over the world who have donated millions of dollars directly to the country's war effort using cryptocurrencies like bitcoin.

As of Saturday, the Ukrainian government claims it had received about $67 million of its $200 million objective since Feb. 26, when Ukrainian officials began tweeting requests for bitcoin donations. On Ukraine's donation website, Alex Bornyakov, the country's deputy minister for digital transformation, stated, "Today, crypto is playing a big role in Ukraine's defense."

According to Bornyakov, Ukraine has spent roughly $34 million of the monies received as of last week, converting about 80% to traditional currencies and using the balance with businesses who already accept cryptocurrency.