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How Ukraine is spending crypto donations

Ukraine’s official Twitter account has been sharing cryptocurrency wallet addresses for the past few days to raise funds during the Russian invasion of Ukraine. As I previously reported, it seems likely that the Ukrainian government is in control of the funds received on these wallet addresses as a spokesperson for Ukraine’s Ministry of Digital Transformation confirmed that “these accounts are state-owned.” For instance, on the Ethereum blockchain, most outgoing transactions go to Kuna, a cryptocurrency exchanged based in Kyiv.