While crypto donations of about $70 million so far have been far smaller than the billions of dollars in government-to-government aid the country has received, the speed and ease with which crypto donations can be deployed makes them essential, said Bornyakov.
“It's more impactful than the traditional financial system because we managed to use this fund almost right away and quickly purchase things that were so much required for our war efforts, and humanitarian efforts. For instance, we used almost a million dollars in cryptocurrencies to purchase military-grade rations that have already been sent to our army. And this was just done, like I mentioned, like almost overnight,” said Bornyakov.
“In times like these, that speed and transparency and efficiency is really important,” Bornyakov added.
“This is an unprecedented case, the first time I think in world history that the decentralized crypto community is able to help without borders, and this gives us freedom to make decisions much, much faster than it usually takes in Ukraine,” he said.
The stakes in Ukraine are high, warned Bornyakov. “The latest polls in Russia show 75 percent of their population support the invasion of Poland. It’s just insane, but this is what they think." And he noted, more than 50 percent of Russia’s population supports the invasion of Latvia and Estonia. “If we can’t stop them here in Ukraine, this is going to be a cancer which spreads across Europe. Helping Ukraine today is helping to secure peace for all of Europe, and maybe for the entire world.”
“We have so many immediate needs: one of the latest purchases was a million dollar equivalent of Bitcoin to buy medical kits for Army and we need more, because there's so many people were injured, so many people in hospitals,” said Bornyakov.
Bornyakov said crypto donations can help end Russia's invasion, and urged everyone in the global crypto community to send crypto to a wallet that goes directly to the Ukrainian government.
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To donate Crypto to Ukraine, please click on the QR code below, then
* Go to Coinbase
* Hit the "Send" button
* Hit the "Scan" button
Alex Bornyakov, Deputy Minister for Digital Transformation, Government of Ukraine
Brittany Kaiser, Crypto adviser to the Government of Ukraine
Alex Mashinsky, CEO Celsius.Network