Ukraine launches crypto donation platform after teaming up with FTX, Kuna and Everstake

FTX and Kuna, and Everstake have teamed up with Ukraine to develop a donation website for people who want to aid the nation and its citizens.
FTX and Kuna, and Everstake have teamed up with Ukraine to develop a donation website for people who want to aid the nation and its citizens.

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The cryptocurrency exchanges FTX and Kuna, as well as the staking platform Everstake, have teamed up with the government of Ukraine to develop a donation website for anyone who wants to aid the nation and its citizens.

The Ministry of Digital Transformation of Ukraine announced on Monday that the authority had launched Aid for Ukraine, a system that collects donations in cryptocurrencies like 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, Russia’s military has started attacking several sections of the country after announcing a “special military operation.”

The platform is aiming to collect $200 million and users have already helped the platform reach nearly 25% of the goal, i.e., $50 million in donations. At the time of publication, the system had raised $48.4 million. The funds will be paid to Ukraine’s National Bank for supporting the country’s military forces and humanitarian relief programs with “ammunition” and essentials. Donations of various currencies in fiat currency to Ukraine’s central bank are also accepted.

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Anatoly Yakovenko, the co-founder of Solana Labs talked about the initiative and stated:

“Aid For Ukraine shows how the global crypto community and the traditional financial system can work together. Crypto donations to the DAO are stored and governed on-chain, then transferred to FTX, a centralized exchange, to be sold for fiat USD sent via SWIFT to the Ukrainian government.”

Ukraine receives major support from crypto

After Russia invades Ukraine, several cryptocurrency companies have indicated that they will donate to the country. The Bored Ape Yacht Club has offered to match a $1 million donation in ETH. Kraken has also offered $1,000 to each user who registered an account in the nation before March 9.

As TheCoinRise reported, Ukraine had raised over $108 million till March 9.

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