$50 million overnight: Ukraine launches crypto donation account

$50 million overnight: Ukraine launches crypto donation account

$50 million overnight
Ukraine launches account for crypto donations

In its defense struggle, Ukraine is pulling out all the stops: The government is now setting up a donation account for cryptocurrencies. It is a complete success, in a few hours the sum of lakhs is achieved. He is supposed to help the military and civilian population.

The government of Ukraine has launched a donation website in collaboration with a cryptocurrency platform. “Cryptocurrencies play an important role in the defense of Ukraine,” said deputy digital minister Oleksandr Bornyakov. These “facilitate the flow of funds to Ukrainian civilians and soldiers”. The Help for Ukraine website allows users to deposit donations in ten different cryptocurrencies, which are then converted into dollars.

According to a tracker on the website, around $50 million has been raised overnight. The statement said the funds would be used to assist Ukraine’s military as well as civilians who “require immediate humanitarian assistance”. In addition to Bahamas-based platform FTX, Ukrainian companies Everstack and Kuna are also involved in the initiative.

In the future, NFT deposits should also be possible. NFT stands for non-fungible token and is a virtual asset that is unique and non-exchangeable. NFTs are traded in millions on the Internet. Like cryptocurrencies, the NFT system is based on blockchain technology. Unlike cryptocurrency, 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.

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