Crypto exchanges FTX and Kuna and staking platform Everstake have partnered with Ukrainian government officials. Together, they established a donation website for users desiring to send crypto to help the country and its people.
In a Monday announcement, Ukraine’s Ministry of Digital Transformation said the government had established Aid for Ukraine; it is 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 help people in their struggle for freedom. Numerous parts of the country have been under attack by Russia’s military since February 24.
As stated on the website, users have sent more than $48 million in crypto at the time of publication; approximately 24% of the platform’s $200 million goals. The funds will go to the National Bank of Ukraine. The country will use it for ammunition and necessities to help the country’s armed forces and humanitarian aid programs. Ukraine also accepts fiat donations to its central bank in various currencies.
Crypto and Traditional Systems Cooperating
According to Solana Labs co-founder Anatoly Yakovenko, aid For Ukraine reveals how the global crypto community and the traditional financial system can work together. Crypto donations to the DAO are kept and governed on-chain, then transferred to FTX, a centralized exchange, to be traded for fiat USD sent via SWIFT to the Ukrainian government.
The platform crowded the list of wallet addresses previously provided by the Ukrainian government using its Twitter account. Nevertheless, since Russia’s invasion of Ukraine, some crypto firms have also revealed they will be donating to Ukraine. Kraken pledged to distribute $1,000 to each user who created an account in the country before March 9, while the Bored Ape Yacht Club said it would correspond to a $1 million donation in ETH.
