Ukraine Receives Nearly $50M in Crypto Donations Overnight

Bitcoin and Co.
Ukraine Receives Nearly $50 Million in Crypto Donations Overnight

The donations received are to be used for military and humanitarian purposes

© Daniel Kalker/ / Picture Alliance

One set up by the Ukrainian government Crypto Fundraiser Raised Nearly $50M Overnight The money will benefit the military and the population.

“Help Ukraine with crypto, don’t leave us alone with the enemy”: With this appeal, a platform set up by the Ukrainian government together with cryptocurrency platforms callssite to donate.

“Cryptocurrencies play an important role in Ukraine’s defense,” Deputy Digital Minister Oleksandr Bornyakov said on Monday. These “facilitate the flow of funds for Ukrainian citizens and soldiers”. The Aid for Ukraine website allows users to submit donations in ten different cryptocurrencies, which are then converted into dollars.

NFTs should also be able to be submitted

Almost $50 million has already been raised overnight, according to a tracker on the website. The money will be used to support Ukraine’s military as well as civilians who are “urgently in need of humanitarian assistance,” the statement said. In addition to the Bahamas-based platform FTX, the Ukrainian companies Everstake and Kuna are also involved in the initiative.



NFT: woman stands in front of digital artwork

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

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AFP

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