CryptoPunk Auction Delivers $100K in Ethereum To Support Ukraine

The Ukrainian government stated today that their Aid for Ukraine crypto fundraising drive auctioned a donated Cryptopunk NFT and raised over $100,000 to support the country’s anti-Russian war efforts.

In March, Cryptopunk #5364 was donated to a Ukrainian crypto fund. The fund sold the NFT to an unidentified buyer for 90 ETH yesterday. NFTs are digital or physical assets that are represented by blockchain-based tokens.

In a tweet, Alex Bornyakov, Ukraine’s Deputy Minister of Digital Transformation—the office in charge of supervising the country’s crypto fundraising throughout the war—announced the sale.

Breaking news on crypto donations: #CryptoPunk #5364 has been sold for 90 ETH. It’s over $100K. Few months ago this NFT was donated for @_AidForUkraine fund. Crypto community continues to support Ukraine.

— Alex Bornyakov (@abornyakov) June 20, 2022

In late February, just after Russian troops entered the country, Ukraine began receiving crypto and NFT donations. Since then, the country is said to have raised more than $135 million in cryptocurrencies through cryptocurrency donations and the selling of donated NFTs.

A crypto organization collected $6.75 million for Ukraine’s military effort in early March by selling a single NFT of the Ukrainian flag. The Ukrainian rap group Kalush Orchestra, this year’s Eurovision champions, auctioned off their trophy to generate nearly $1 million in ETH for the foundation a few weeks ago.

The cryptocurrency fund assists Ukraine’s military in purchasing non-lethal goods such as protective vests and medical kits. The Ukrainian government does not hold or spend the funds; it just approves and monitors the initiative. The fund’s treasury is run by the Ukrainian crypto exchange Kuna, which is used to assist support volunteer purchases.

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