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Ukraine launches website for donations in cryptocurrencies

Ukraine has launched a website to accept donations in cryptocurrencies amid the war with Russia. It has partnered with crypto firms FTX and Everstake. Donations received through this site will go to the Central Bank of Ukraine. The facility of giving donation through non-fungible token (NFT) will also be added to this website later.

According to a news agency report , users on the “Aid for Ukraine” website can donate in 10 cryptocurrencies , including bitcoin and ether . “Cryptocurrencies are playing an important role in Ukraine’s security,” Oleksandre Borniakov, Ukraine’s deputy minister for digital transformation, said in a statement. 

Everstake, one of the largest crypto firms in Ukraine, will also add donations to other cryptocurrencies. The Bahamas exchange will convert the FTX donated funds into dollars and then send it to the National Bank of Ukraine. Ukraine’s cryptocurrency exchange Kuna also has a stake in this website. A tracker shows that about $48 million had been raised on the website as of Tuesday. The target is to raise $ 200 million (about Rs 1,527 crore) through the website. This fund will be used to help the Ukrainian army as well as civilians. 

Ukraine is also using donations from cryptocurrencies to buy things like food and fuel. Military equipment like bullet proof jackets and night vision goggles for soldiers are also being purchased from this fund. Russia invaded Ukraine last month in the wake of a long-standing geopolitical dispute, and the war between the two countries has continued since then. Ukraine began accepting donations in crypto earlier this month. Earlier, the government of Ukraine had also appealed to donate in cryptocurrencies. Since then, there has been a steady increase in the donations received in cryptocurrencies to Ukraine. An NGO in Ukraine also accepts donations in bitcoin. This help is sent to the Ukrainian army. This organization received a lot of donations in bitcoin last year. 

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