The Ukrainian government has launched an official cryptocurrency donation website to raise funds in support of the Ukrainian armed forces and humanitarian aid programs in the fight against Russia. The donation platform is a collaboration between the Ministry of Digital Transformation of Ukraine, Everstake, and cryptocurrency exchange FTX.
Government Cryptocurrency Donation Website Now Live
The Ministry of Digital Transformation of Ukraine announced on Monday that it has launched the official โHelp for Ukraineโ website to raise funds in support of the Ukrainian armed forces and humanitarian aid programs in the fight against Russia. The crypto donation platform is associated with staking service provider Everstake and cryptocurrency exchange FTX.
Mykhailo Fedorov, Deputy Prime Minister of Ukraine, tweeted on Monday confirming that the official website where anyone in the world can donate cryptocurrency to Ukraine has gone live.
The new donation website describes: โAid For Ukraine is cooperating with the cryptocurrency exchange FTX, which converts the received crypto funds into fiat money and sends the donations to the National Bank of Ukraine,โ explaining:
This marks the first instance of a crypto exchange directly cooperating with a public financial entity to provide a conduit for crypto donations.
The Aid For Ukraine website lists crypto addresses as well as Ukrainian government bank account information for the donation. Donors can send various cryptocurrencies, including bitcoin (BTC), ethereum (ETH), tie (USDT), lunar (DOT), solana (SOL), dogecoin (DOGE), and monero (XMR). The Ukrainian government also accepts fiat donations in USD, EUR, GBP, AUD and CAD.
At the time of this writing, the donation site indicates that the community has raised more than $50 million.
Ukraine's Ministry of Digital Transformation further explained that the funds raised will be spent on military equipment, as well as an "informative counter to Russian propaganda" and a "global communication campaign about real events in Ukraine."
The funds will also be used in โcybersecurity and recovery of digital infrastructure, providing additional protection and migration of records, [and the] purchase of special technical equipment and facilities,โ the ministry said.
Earlier this month, Alex Bornyakov, Ukraine's deputy minister for digital transformation, revealed that his government has spent $15 million in donated cryptocurrency on military supplies, including bulletproof vests.
What do you think about the launch of a cryptocurrency donation website by the Ukrainian government? Let us know in the comments section.
image credits: Shutterstock, Pixabay, Wiki Commons
DisclaimerNote: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
