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The Blubber

Ukraine government partnered with FTX for crypto to fiat donations
11/12/2022

Per CoinDesk, on March 14:

The Ukrainian government launched a new crypto donations website on March 14, 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.

The country's collective efforts have already raised some $48 million in bitcoin (BTC), DOT, ether (ETH), SOL, tether (USDT) 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.

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.

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