invezz.com
Following the outpouring crypto donation from the cryptocurrency community, Ukraine has launched a crypto fundraising website in Partnership with Everstake and FTX in an initiative dubbed ‘Aid for Ukraine.’
Everstake is a crypto staking service provider while FTX is a crypto exchange. FTX shall be responsible for converting the crypto donations into fiat and sending them to the fundraising account at the National Bank of Ukraine.
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The website states that:
“This marks the first-ever instance of a cryptocurrency exchange directly cooperating with a public financial entity to provide a conduit for crypto donations.”
At the top of the website there is a polite plea that reads, “Help Ukraine with crypto, don’t leave us alone with the enemy.”
The donations received by the Ukrainian government are intended to help support the Armed Forces of Ukraine and several humanitarian aid programs.
Some of the donations have already been used to buy tangible resources. Deputy Minister of Digital Transformation of Ukraine on IT industry development Alex Bornyakov recently tweeted a list of supplies bought since March 1.
Crypto assets proved extremely helpful in facilitation of funding flows to the Amed Forces of Ukraine. Huge thanks to everyone who donated to the Crypto Fund of Ukraine.
— Alex Bornyakov (@abornyakov) March 11, 2022
Each and every helmet and vest bought via crypto donations is currently saving Ukrainian soilders' lives. pic.twitter.com/CghDmXEcJG
The crypto donations drive started with a plea by the Ukrainian government through Twitter for the crypto community to send donations to specific wallet addresses provided by the government. Currently, the Ukrainian government has received donations in bitcoin (BTC), Tether (USDT), Ethereum (ETH), Polkadot (DOT) Solana (SOL), Dogecoin (DOGE), Monero (XLM), Icon, and Neo N3 coins.
Besides cryptocurrencies, the website also has an option for donations using fiat currency.
While posting the site in his Telegram channel after the site was unveiled, Ukraine’s Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov wrote:
“We are raising funds for cyber defense, information counteraction to Russian propaganda, and technical assistance to the Armed Forces.”
Over $48.5 million raised
According to the website, the crypto community has donated $48,598,960 so far out of a target of $200 million. The figure is however an approximation since it is difficult to put a definitive figure following the crypto market price swings.