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Sunday, January 29, 2023
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Ukrainian government launches crypto donation website

crypto donation

According to the website, users have sent more than $48 million in crypto at present, roughly 24% of the platform’s $200 million goal

Crypto exchanges FTX and Kuna and staking platform Everstake have partnered with Ukrainian government officials to launch a donation website for users wishing to send crypto to help the country and its people.

In a Monday announcement, Ukraine’s Ministry of Digital Transformation said the government had launched Aid for Ukraine, a platform that accepts donations in Bitcoin (BTC), Ether (ETH), Tether (USDT), Polkadot (DOT), Solana (SOL), Dogecoin (DOGE), Monero (XMR), Icon (ICX), and Neo (NEO) ‘to support people in their fight for freedom.’ Many parts of the country have been under attack by Russia since Feb. 24.

According to the website, users have sent more than $48 million in crypto at present, roughly 24% of the platform’s $200 million goal. The funds will be sent to the National Bank of Ukraine to support the country’s armed forces and humanitarian aid programs. Fiat donations to Ukraine’s central bank in various currencies are also accepted.

Aid For Ukraine shows how the global crypto community and the traditional financial system can work together, said Solana Labs co-founder Anatoly Yakovenko. Crypto donations to the DAO are stored and governed on-chain, then transferred to FTX, a centralized exchange, to be sold for fiat USD sent via SWIFT to the Ukrainian government.

The platform consolidated the list of wallet addresses previously provided by the Ukrainian government using its Twitter account. However, since Russia’s invasion of Ukraine, some crypto firms have also announced they would be donating to Ukraine. Kraken pledged to distribute $1,000 to each user who created an account in the country before March 9, while the Bored Ape Yacht Club said it would match a $1 million donation in ETH.


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