Ukraine turns crypto donations into 5,550 bulletproof vests, 500 helmets and more

As millions of dollars in cryptocurrency have flowed into Ukraine, the country has turned such donations into thousands of bulletproof vests, packed lunches, medicine items and other supplies for the armed forces.

Ukraine’s deputy minister of Digital Transformation Alex Bornyakov shared Friday a list of supplies that have been bought since March 1 using funds stemming from those crypto donations. It includes 5,550 bulletproof vests, 410,000 packed lunches and 500 helmets.

“Crypto assets proved extremely helpful in facilitation of funding flows to the Amed (sic) Forces of Ukraine,” said Bornyakov, who has been at the helm of the country’s efforts to secure cryptocurrency.

As much as $100 million worth of cryptocurrency has been donated since Ukraine's initial donation appeal. Besides different types of digital coins, the government has also received non-fungible tokens (NFTs), notably including CryptoPunk #5364, which sold for tens of thousands of dollars last year.

At least $15 million of those donations had been spent by last Friday, Bornyakov told Bloomberg. The minister also shared with CoinDesk that some weapons suppliers were actually accepting payments directly in crypto.


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