In the spirit of transparency, Ukraine’s Ministry for Digital Transformation has printed a financial report detailing the way it spent the $54.6 million price of funds raised from the crypto group.

Ukraine’s Minister for Digital Transformation Mykhailo Fedorov shared the report in a tweet on Aug. 17, with most of the expenditure getting in assist of the military combat.

Expenditure highlights

A more in-depth look into the specifics of the report exhibits that Ukraine spent essentially the most on funding its military endeavors – greater than $38 million.

The military expenditures included $11.9 million spent to buy UAVs, $7 million on buying armored vests, $3.8 million on subject rations, $2.7 million on military clothes and accessories, and $1.7 million on thermal imagers.

Medicine and military medical kits incurred $1.3 million and $1.2 million in bills, respectively. The nation additionally bought Radio Communication kits for $351,146 and communications units for $924,618.

Some objects had been thought-about confidential as releasing extra particulars might pose a menace amidst the continuing conflict. The confidential objects embody $5.7 million spent on laptop {hardware} and software program, $5.3 million spent on a worldwide anti-war marketing campaign, and $5.1 million spent on shopping for weapons on the request of the Ministry of Finance.

The ministry stated it’s will present an in depth checklist of each penny spent on an ongoing foundation. Ukraine additionally launched an English information platform, United24, to supply real-time updates on the state of the conflict and weekly studies on how donations are utilized.

Crypto group’s assist for Ukraine

The $54.6 million accounted for by the Ministry is part of the story of how a lot the crypto group supported Ukraine’s conflict effort.

In the wake of the conflict, the deputy minister Ministry of Digital Transformation Alex Bornyakov in an interview confirmed that $100 million was acquired from the crypto group, whereas $60 million was managed by @_AidForUkraine by means of the Kuna crypto change.

Many supporters additionally gave up their costly NFTs to the trigger. Ukraine DAO auctioned off an NFT of the nation’s flag and it offered for $6.75 million, whereas a person donated a CryptoPunk NFT.

In appreciation, Ukraine had deliberate to conduct an airdrop for donors however backtracked after due consideration given the rise of many micro-donations.

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