- Ukraine launches its official website to turn crypto donations into fiat funds.
- The collaboration comes from Everstake and FTX exchange.
- ‘Aid For Ukraine’ is already gaining significant donations to aid the battle against Russia.
Ukraine announces the official launch of ‘Aid For Ukraine’. This is a website that is the country’s official platform to collect crypto donations from the rest of the world. These funds will go towards supporting the armed forces of Ukraine as well as related humanitarian aid programs.
Throughout the Russia-Ukraine crisis, the world as a concerned collective has been sending donations to Ukraine to aid their defense against Russia. Almost all these donations came in the form of cryptocurrencies.
In detail, the website is a collaborative effort between Everstake, the Ministry of Digital Transformation of Ukraine, and the popular cryptocurrency exchange — FTX. The website is open to the entire world and donations have already started pouring in.
As we can see from the tweet above, the Vice Prime Minister of Ukraine — Mykhailo Fedorov himself, made the announcement on Twitter. The website says ‘Don’t leave Ukraine alone with the enemy’.
So far, the website is already gaining huge amounts of crypto in the form of donations. Presently, the current goal of the website is to reach $200,000,000. At the time of writing, donations have exceeded $50,000,000.
From the website, donations are being made in the form of various cryptocurrencies. In particular, donations are coming as BTC, ETH, USDT, DOT, SOL, DOGE, XMR, ICX, and NEO.
To elaborate, every donation that comes to ‘Aid For Ukraine’ comes as cryptocurrency. After which, FTX converts the crypto funds into fiat and transfers the funds to the National Bank of Ukraine. “This marks the first-ever instance of a cryptocurrency exchange directly cooperating with a public financial entity to provide a conduit for crypto donations”.
Above all, the funds will be used to equip Ukraine’s military to ‘counter Russian propaganda’. It will also fund the establishment of a global communication campaign to showcase the true events in Ukraine. In addition, the funds will even bolster cybersecurity and digital infrastructure recovery.
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