Ukraine’s Government Launches Official Website for Cryptocurrency Donations
Ukraine’s Ministry of Digital Transformation said the government had launched Aid for Ukraine. It’s a platform that accepts donations in Bitcoin, Ethereum, Tether, Polkadot, Solana, Dogecoin, Monero, Icon, and Neo.
According to the website, users have sent more than 48 million US dollars (IDR 688 billion) in cryptocurrency. This amount is approximately 24% of the platform’s target of USD 200 million (IDR 2.86 trillion).
This platform supports people in their struggle for freedom from the Russian invasion. Many parts of the country have been under attack by the Russian military since February 24. Assets will be transferred to the National Bank of Ukraine and used for “ammunition and essentials” to support the country’s military forces and humanitarian relief operations. Donations of fiat money to the Ukrainian central bank in several currencies are also welcomed.
The fund destined for Ukraine comes as Russia faces economic pressure from sanctions imposed by the United States and the European Union. As a result, many private businesses, including significant banking firms Goldman Sachs, Visa, and Mastercard, have cut ties with the country in the past two weeks.
“The fact that it can’t freeze, it can’t be censored, and it can be used without ID is fundamental,” Alex Gladstein, chief strategy officer at the Human Rights Foundation, told Recode. “And they are why bitcoin is such an essential humanitarian tool.
“Help For Ukraine shows how the global crypto community and traditional financial systems can work together.”, said Solana Labs co-founder Anatoly Yakovenko.
Bored Ape Yacht Club said they would donate $1 million (IDR 14. 3 billion) in ETH. In addition, Kraken promised to distribute 1,000 US dollars (IDR 14. 3 million) to every user who created an account in the country before March 9.
Since the war started, the Ukrainian government has raised more than $100 million in cryptocurrency donations.