As part of a new military assistance package worth up to $800 million for the war effort against Russia, the Biden administration has agreed to supply cluster bombs to Ukraine, and it is likely that the Pentagon will ship thousands of them on Friday, as per anonymous sources.
Bradley and Stryker armored vehicles, as well as a variety of munitions, including rounds for howitzers and the High Mobility Artillery Rocket System, or HIMARS, will be among the weaponry sent by the Pentagon, according to authorities.
Crypto to the Rescue
The deputy digital minister of Ukraine has previously said that 60% of suppliers take cryptocurrency in exchange for “helmets and bullet proof vests” and other necessities of modern warfare. The Ukrainian government’s Twitter accounts started asking for Bitcoin, Ethereum, and the USDT stablecoin two days after the conflict broke out on 24 February 2022.
More than 100,000 individuals have reportedly donated cryptocurrency to Ukraine. The government asserts that some of these funds originated in Russia. Alex Bornyakov, deputy digital minister, earlier said that contributions to Ukraine had ranged “from one dollar worth, to millions of dollars” in cryptocurrencies.
According to him, the Ukrainians resorted to crypto from the outset of the invasion because they required urgent assistance. He predicted it would take days if they went via the standard banking system.
According to the Minister,
“We were able to secure the purchase of vital items in no time at all via crypto, and what is amazing is that around 60% of suppliers were able to accept crypto, I didn’t expect this.”
The use of cryptocurrencies in relief efforts during the war and natural catastrophes has been crystal clear in the conflict in Ukraine. Cryptocurrency has gained popularity as a medium of exchange in recent years, with several countries and businesses exploring its use in various sectors. However, its adoption in government transactions, especially in defense or weapons procurement, is still relatively uncommon.
The major question is whether or if Ukraine continues to employ cryptocurrency as a means of exchange for future payments. Looking at past transactions, it is highly likely that future deals would take place in crypto.
Disclaimer: The opinions expressed in this article are solely those of the writer and not of this platform. The data in the article is based on reports that we do not warrant, endorse, or assume liability for. The information posted is not intended to defame or offend.
