Address

Precise Investors

Friday, August 12, 2022
Latest News

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.

Important:

The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply