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Ukraine Partners With FTX, Everstake to Launch New Crypto Donation Website
FTX is converting crypto contributions to Ukraine’s war effort into fiat for deposit at the National Bank of Ukraine.
By Danny Nelson
Updated May 11, 2023, 4:40 p.m. Published Mar 14, 2022, 5:13 p.m.
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The Ukrainian government launched a new crypto donations website on Monday, streamlining its multimillion-dollar effort to turn bitcoin into bullets, bandages and other war materiel.
“Aid for Ukraine,” which has the backing of crypto exchange FTX, staking platform Everstake and Ukraine’s Kuna exchange, will route donated crypto to the National Bank of Ukraine, Everstake’s Head of Growth Vlad Likhuta told CoinDesk. Ukraine’s crypto-savvy Ministry of Digital Transformation is also involved.
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The country's collective efforts have already raised some $48 million in bitcoin , DOT, ether , SOL, tether and other cryptocurrencies, according to the website. Other estimates place the amount closer to $100 million, but totals vary with market swings and exactly which websites are included.
The website deepens an unprecedented tie-up between public and private sector forces in crypto. FTX is converting donations into fiat for deposit at the National Bank of Ukraine, a press release said. It described this relationship as a “first.”
Everstake’s involvement allows more cryptocurrencies to be accepted by the website.
The central bank is using donations to support “humanitarian aid programs” as well as Ukraine's armed forces, according to the website. “The people will continue their fight for freedom, but they need more ammunition and necessities,” the website read.
“Crypto assets proved extremely helpful in facilitation of funding flows to Ukrainian citizens and soldiers, as well as in raising awareness and engaging people worldwide,” Oleksandr Bornyakov, an official at the digital ministry, said in a statement.
He hinted that an upcoming NFT collection “will give the next boost to the crypto fundraising process.”
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A ladder for the masses: Pakistan’s Bilal Bin Saqib says crypto is a necessity, not a luxury
Regulation of digital assets is a great opportunity for emerging markets, said Pakistan’s crypto regulation lead.
What to know:
- Pakistan boasts the third largest crypto market by retail activity, ahead of places like Germany and Japan.
- “We have over 100 million unbanked citizens, people who have no saving tools, no investment tools, no way to break out of their economic class," PVARA chairman Bilal Bin Saqib said. "Hence why crypto and blockchain are not a luxury for Pakistan. It’s a ladder for the masses.”
- On the planned BTC reserve or the national energy allocation, speed without structure can be dangerous, said Pakistan’s crypto regs czar.
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