$50 million overnight
Ukraine launches account for crypto donations
3/15/2022 7:46 am
In its defense struggle, Ukraine is pulling out all the stops: the government is now setting up a donation account for cryptocurrencies. This is a complete success, within a few hours a sum of millions is achieved. He is supposed to help the military and civilian population.
The government of Ukraine has launched a donation website together with cryptocurrency platforms. “Cryptocurrencies play an important role in Ukraine’s defense,” said Deputy Digital Minister Oleksandr Bornyakov. These “facilitate the flow of funds for Ukrainian citizens and soldiers”. The Aid for Ukraine website allows users to submit donations in ten different cryptocurrencies, which are then converted into dollars.
Almost $50 million has already been raised overnight, according to a tracker on the website. The money will be used to support Ukraine’s military as well as civilians who are “urgently in need of humanitarian assistance,” the statement said. In addition to the Bahamas-based platform FTX, the Ukrainian companies Everstake and Kuna are also involved in the initiative.
In the future, it should also be possible to submit NFTs. NFT stands for Non-Fungible Token and is a virtual asset that is unique and non-exchangeable. NFTs are traded on the internet for amounts in the millions. Like cryptocurrencies, the NFT system is based on blockchain technology. In contrast to cryptocurrencies, however, a non-fungible token is unique and, to a certain extent, a digital collector’s item that can be sold or exchanged using a certificate.