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The Ukrainian Ministry for Digital Transformation released how they have spent some of the $60 million-plus in donations that they had received. Previously, we had heard that they had used some of the money ($15 million) for body armor and thermal imaging equipment. When the Ukrinaina wallets first launched people were opposed to them because they would be spent on the military/defense forces of Ukraine. The first round of purchases seemed to me to indicate that the money was going to non-lethal means however, not everyone was so sure. Now that a list of purchases has been released I hope this will serve to allow some people to relax about what the money is going to. Before I continue though here is a list of what the money they have spent so far has gone to.
The release of this information I saw as vital for two reasons. First, it would do what people want to see with their donation and that is to see it in action and see what it is being spent on. You are able to see oh they are not just sitting on this money or taking it for themselves rather they are putting it to use. Personally, I think the second reason is much more important due to these being crypto donations. That is the level of transparency that is provided. Crypto is huge on transparency and is supposed to keep people accountable since all of the transactions are public. This is living up to those standards that crypto and the crypto community have come to expect.
Satisfying these two things I feel that this will further encourage more people to donate and those who have already donated to donate again. Transparency is key and so as long as Ukrainian continues to do that I do not see a reason for the donations to continue. Different methods or ways of providing this aid via crypto are emerging as well.
While several countries and politicians have called for Russian users to be cut off from accessing crypto that has not really resulted in too much action. Instead, exchanges are doing different things to help out the Ukrainians and it ranges from FTX gifting BTC to Ukrainian users when the invasion started a couple of weeks ago to Kraken's recently announced plan.
Kraken's plan is very unique in that upfront they are giving $10+ million in Bitcoin to Ukrainian users. Each user who created an account before March 9th will receive $1,000 in BTC and will be able to convert it into another crypto or currency or withdraw it with all fees covered by the exchange. Further dividends are expected to be paid as Russian fees accumulate. It is their attempt at maintaining a balance between keeping the Russian market open while also giving to the Ukrianians. Some are skeptical at how this will all play out as there are a ton of unanswered questions regardless though it stands to benefit both Kraken and Ukrainians.
