Ukrainian government launches official website for crypto donations: Crypto Moves
RIYADH: Ukraine’s Ministry of Digital Transformation has launched the official Aid For Ukraine website to raise cryptocurrency funds to support the country’s armed forces and humanitarian aid programs in its war against Russia.
The crypto donation platform is in partnership with staking service provider Everstake and crypto exchange FTX, Bitcoin.com reported.
Mykhailo Fedorov, Ukrainian Deputy Prime Minister, tweeted on Monday confirming that the official site had been launched.
“Aid For Ukraine cooperates with FTX cryptocurrency exchange which converts received crypto funds into fiat and sends donations to the National Bank of Ukraine,” the new donation website said.
“This is the first-ever instance of a cryptocurrency exchange cooperating directly with a public financial entity to provide a conduit for crypto donations.”
The website lists crypto addresses, in addition to Ukrainian government bank account information for the donation.
Donors can send multiple cryptocurrencies including Bitcoin, Ethereum, Tether, Polkadot, Solana, Dogecoin, and Monero.
The donations site says the community has raised over $50 million, according to Bitcoin.com.
Bitcoin, the leading international cryptocurrency, traded higher on Wednesday, rising 4.94% to hit $40,303 as of 11:50 a.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $2,678, up 6.26%, according to data from Coindesk.
Bitcoin’s sudden rise on Wednesday pulled the biggest cryptocurrency out of the tight range it had been spending most of the past week.
Bitcoin has spent the past few days mired in its tightest trading range since October 2020, a phenomenon that some market watchers attribute to long-term holders of the coin stepping in to buy whenever the token drops.
Meanwhile, short-term selling by investors has prevented Bitcoin and other digital assets from making lasting gains, Bloomberg reported.