Cryptocurrency exchanges FTX and Kuna, as well as staking platform Everstake, have partnered with Ukrainian government officials to launch a donation website for users willing to send cryptocurrencies to help the country and its people.
In a statement on Monday, Ukraine’s Digital Transformation Ministry said the government has launched Help 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.” Since February 24, the Russian military has been attacking many parts of the country.
According to the website, at press time, users have sent more than $48 million in cryptocurrencies, roughly 24% of the platform’s $200 million goal. The funds will be sent to the National Bank of Ukraine and used for “ammunition and emergency supplies” to support humanitarian aid programs and the country’s armed forces. Fiat donations to the central bank of Ukraine in various currencies are also accepted.
“Helping Ukraine shows how the global cryptocurrency community and the traditional financial system can work together,” said Anatoly Yakovenko, co-founder of Solana Labs. “Cryptocurrency donations to the DAO are stored and regulated on the network and then transferred to FTX, a centralized exchange, to be sold for fiat dollars sent via SWIFT to the government of Ukraine.”
Cryptocurrency has proven to be a real lifesaver thanks to its ease of use. We at @mintsyfra have made it even easier to donate in crypto. Together with @everstake_pool and @FTX_Official, we are announcing https://t.co/8LsgXj0HSB, a site where you can donate cryptocurrency to save Ukraine. — Alexey Bornyakov (@abornyakov) March 14, 2022
The platform has combined a list of wallet addresses previously provided by the Ukrainian government through its Twitter account. However, after the Russian invasion of Ukraine, some cryptocurrency firms have also announced that they will be donating to Ukraine. Kraken has promised to give away $1,000 to every user who has created an account in the country by March 9, while the Bored Ape Yacht Club said it would match the $1 million ETH donation.
On the subject: Ally or suspect? War in Ukraine as a stress test for the cryptocurrency industry
Cointelegraph reported that as of March 9, various organizations and government wallets have received more than $108 million in aid to Ukraine. The funds meant for Ukrainians come amid economic stress in Russia due to sanctions imposed by the US and the European Union. Many private businesses, including major banking firm Goldman Sachs, Visa and Mastercard, have severed ties with the country over the past two weeks.
Cointelegraph reached out to FTX but has not received a response as of press time.
