Ukraine’s Government Launches Official Website for Cryptocurrency Donations

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Ukraine’s Government Launches Official Website for Cryptocurrency Donations – In the fight against Russia, the Ukrainian government has opened an official cryptocurrency donation website to generate funds for the Ukrainian military forces and humanitarian aid initiatives. 

The Ukrainian Ministry of Digital Transformation, Everstake, and cryptocurrency exchange FTX collaborated on the donation platform.

On Monday, Ukraine’s Ministry of Digital Transformation announced the opening of the official “Aid For Ukraine” website, which will gather donations for the Ukrainian armed forces and humanitarian aid programs in the conflict against Russia. 

Also Read: EU PARLIAMENT COMMITTEE VOTES AGAINST PROOF-OF-WORK BAN – SUPPORTS ALTERNATIVE AMENDMENT ON CRYPTO ASSETS

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The crypto contribution platform is a collaboration between Everstake, a staking service provider, and FTX, a cryptocurrency exchange.

Ukraine’s vice prime minister, Mykhailo Fedorov, confirmed Monday that the official website where anyone in the world can donate bitcoin to Ukraine has gone live.

“Aid For Ukraine is partnering with the cryptocurrency exchange FTX, which transforms crypto funds received into fiat and distributes the donations to the National Bank of Ukraine,” the new donation website explains, adding:

“This is the first time a cryptocurrency exchange has worked directly with a government-run financial institution to facilitate crypto donations.”

The Aid For Ukraine website provides cryptocurrency addresses as well as bank account details for donations to the Ukrainian government. Donors can send ethereum (ETH), bitcoin (BTC), polkadot (DOT), tether (USDT), solana (SOL),  monero (XMR), and dogecoin (DOGE) among other cryptocurrencies. Fiat donations in USD, GBP, EUR, CAD, and AUD are also accepted by the Ukrainian government.

Also Read: JAPAN ASKS CRYPTO EXCHANGES TO COMPLY WITH SANCTIONS RESTRICTIONS

Ukraine’s Government Launches Official Website for Cryptocurrency Donations – At the time of writing, the donation portal indicated that the community had raised more than $50 million.

The cash raised will be used for military weapons, as well as “informational counteraction against Russian propaganda” and a “global communication campaign on genuine events in Ukraine,” according to Ukraine’s Ministry of Digital Transformation.

The funds will also be used for “cybersecurity and digital infrastructure recovery,” as well as “extra security and register migration, and the procurement of technical special equipment and facilities,” according to the ministry.

Ukraine’s deputy minister of digital transformation, Alex Bornyakov, announced earlier this month that his government had spent $15 million in donated cryptocurrency for military gear, including bulletproof vests.

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