The government of Ukraine launched a website on cryptocurrency donation on Monday, with firms FTX and Everstake. The website “Aid of Ukraine” collects donations from users and accepts donations in 10 cryptocurrencies such as Bitcoin, Dogecoin, Ether, and others.
As of March 15, the Bitcoin price in India at 6.42 pm IST stood at ₹30.78 lakh
In addition to the support of FTX and Everstake, the Ukrainian kuna exchange and Everstake’s Head of Growth, Vlad Likhuta, told Coin Desk that donations to “Aid of Ukraine,” which is supported by these companies and the Ukrainian kuna exchange, will go to the National Bank of Ukraine.
According to Oleksandr Borniakov, Ukraine’s deputy minister of digital transformation, cryptocurrencies play a critical role in the country’s defense.
He also added that crypto assets are extremely valuable for increasing the flow of funds to Ukrainian citizens and soldiers, as well as for raising global awareness.
The country has already had a good start with the collection of $48 million in Bitcoin (BTC), DOT, ether (ETH), SOL, tether (USDT), and other cryptocurrencies, as per the website.
Other estimates suggest that the amount is closer to $100 million, but it varies according to the market swings.
The crypto firm’s everstaking is the largest in Ukraine that allows making donations to other sites that are not listed in cryptocurrencies.
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In the future, the site is also planning to donate nonfungible tokens (NFT), which also boosts the upcoming crypto fundraising process.
The central bank of Ukraine is using this donation in support of “humanitarian aid programs’’ and the Ukrainian army forces, The people of Ukraine will continue to fight for freedom, but they require more amenities and necessities, said as per the website.
To deposit with Ukraine’s national bank Because FTX is converting its donations into fiat currency the website is increasing the unparalleled tie-up of crypto in public and private sector forces.
The main purpose behind the launch of cryptocurrency donation by FTX and everstake is to facilitate donations to Ukraine in support of the conflict against Russia.
According to Elliptic statistics, the Ukrainian government has applied to the crypto community’s liberality since Russia’s incursion on February 24.
70% of the funds collected by the cryptocurrency are logically utilized to strengthen Ukraine’s army forces in the face of Russian land and air attacks.
More than $93.6 million in total funding was provided to various government and non-government Ukrainian organizations.
The vast majority were Ether (ETH), Bitcoin (BTC), and USDT. DOT, SOL, NEO, EOS, ICON, XMR, and DOGE are among the other crypto assets.
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