Cryptocurrencies Are Essential
For Ukraine’s Military Operations
On July 26, Alex Bornyakov, Ukraine’s Deputy Minister of Digital Change, reasserted his support for cryptocurrencies on his Twitter account, maxim they were “essential” for the country’s war against Russia.
Bornyakov’s tweeted in feedback to national media outlet The Kyiv Independent, which noted that despite the cryptocurrency crash, Ukraine carry on to receive crypto contribution for the country’s military and humanitarian aid.
Ukraine Accept Over $100 Million From Different Crypto Initiatives
As of today, just the Ministry of Digital Transformation of Ukraine has lift over $60 million in contributions via BTC, ETH, USDT, DOT, SOL, and USDC on the Aid for Ukraine website.
Additionally, the Ukrainian government has used non-fungible tokens (NFT) to raise even more money for its military functioning, creating the “Meta History: Museum of War,” a virtual museum where artists display the latest events of the Russia-Ukraine war. These moments are commemorate in NFTs that can be mined by the highest applicant.
So unlike its rival Russia which lately banned the use of cryptocurrencies for payments and cash operations, Ukraine has decriminalize the use of cryptocurrencies ratifying its pro-crypto posture and counting over $100 Million in crypto donations by March of 2022.
Each “Crypto Winter” Guides To a “Crypto Spring.”
Bornyakov is an idealist. He said that despite the “bear market” and the “crypto winter,” crypto contributions have “verbatim the lives of soldiers.” He also said that “every “crypto winter” leads to a “crypto spring.” However, he abstained from sharing any predictions or developing on his words.
The cryptocurrency market has lost more than two-thirds of its market funding. In late 2021 it hit an all-time high on all sides $3 trillion. If Bornyakov is correct and the new crypto spring recuperates the losses, the whole industry would have to register a 3X growth before investigator start talking about a new all-time high.