Ukraine and FTX partner on website for crypto donations

Ukraine and FTX partner on website for crypto donations

Ukraine and FTX partner on website for crypto donations

The Ukraine government, in partnership with FTX and others, has launched an official website to accept cryptocurrency donations for the Ukrainian armed forces and humanitarian aid programs.

Official website for sending crypto

Aid for Ukraine” is a collaboration between the country’s Ministry of Digital Transformation, US cryptocurrency exchange FTX, staking provider Everstake and Ukraine exchange Kuna.

Mykhailo Fedorov, Ukraine’s Vice-Minister and head of the MDT announced in a tweet that the site had gone live and that anyone in the world could make cryptocurrency donations.

A variety of popular coins are being accepted, including Bitcoin, Ethereum, Polkadot, Solana, Tether and Dogecoin, as well as a couple of lesser-known currencies, ICON (ICX) and Casper (CSPR).

As of March 12, the site had already raised nearly $56 million of its $200 million goal. This is in addition to $15 million in earlier cryptocurrency donations that Deputy Minister of Digital Transformation Alex Bornyakov said was used to acquire bulletproof vests and other military supplies.

FTX, which had announced previously that it would donate $25 to each of its Ukraine account holders, is now the first cryptocurrency exchange to provide a channel for donations to a public financial institution. According to the website, FTX is converting all cryptocurrency received into fiat and sending it to the National Bank of Ukraine.

Sam Bankman-Fried, FTX founder and CEO, said he was “incredibly excited and humbled” to cooperate with the Ministry of Digital Transformation, Everstake and Kuna on the project.

According to Mike Chobanian, Kuna founder and President of the Blockchain Association of Ukraine, “This is not just the war against centralized regime, this is the birth of blockchain as a backbone of global security.”

Solana co-founder Anatoly Yakovenko commented that “Aid For Ukraine shows how the global crypto community and the traditional financial system can work together.”

ICON Foundation has already pledged $1 million. Said founder Min Kim, “I hope that our technology and community can make a small contribution in this time of need.”

This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.

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