$50 Million Overnight: Ukraine Launches Crypto Donation Account

50 million dollars overnight
Ukraine launched an account for donations in cryptocurrency

In its defense struggle, Ukraine is doing everything it can: the government is now working on creating a crypto-donation account. This is a complete success, in a few hours an amount is achieved in the millions. It is meant to help the military and civilian population.

The government of Ukraine has launched a donation site with cryptocurrency platforms. “Cryptocurrencies play an important role in the defense of Ukraine,” said Deputy Digital Minister Oleksandr Bornyakov. These “facilitate the flow of funds for Ukrainian citizens and soldiers.” Aid for Ukraine allows users to make 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 site. The statement said the money would be used to support the Ukrainian military as well as civilians who are “in dire need of humanitarian assistance”. In addition to the Bahamas-based FTX platform, Ukrainian companies Everstake and Kuna are also participating in this initiative.

In the future, it should also be possible to introduce NFTs. NFT stands for Non-Fungible Token and is a unique, non-fungible virtual asset. NFTs are traded online in amounts estimated in the millions. Like cryptocurrencies, the NFT system is based on blockchain technology. Unlike cryptocurrencies, a non-fungible token is a unique and, to some extent, a digital collector’s item that can be sold or exchanged using a certificate.

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