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Ukraine sells CryptoPunk to finance war against Russia

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Ukraine sells CryptoPunk to finance war against Russia

Ukraine has raised another batch of funds from the cryptocurrency market, after selling the highly-valued non-fungible token (NFT) known as CryptoPunk #5364, to finance its war against Russia.

In a post on social media platform, Twitter, on Monday, the country’s Deputy Minister of Digital Transformation, Alex Bornyakov, disclosed that the CryptoPunk was sold at the price of 90 Ethereum.

“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.” Bornyakov tweeted.

Read also: ‘Europe will disappear if West sends nuclear weapons to Ukraine,’ Russia warns

The 90 ETH is reported to be worth $100,000. Prior to the sale of CryptoPunk, Ukraine had raised $6.75 million from the sale of its flag turned into an NFT, as it enjoyed support from the digital currency community amid the war.

Since the country released its cryptocurrency wallet to the public in February, Ukraine government has received $135 million in donations from the cryptoasset community.

The CryptoPunk sold for $100,000 was given to Ukraine in March, and as at that time, it was worth $260,000, but the recent slump in the crypto market has affected the value of Ethereum and other cryptocurrencies.

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