Users have sent more than $48 million in cryptocurrency to the Ukrainian government wallet address, accounting for about 24% of the platform's $200 million target.

Cryptocurrency exchange FTX and Kuna and pledge platform evertake have reached cooperation with Ukrainian government officials to launch a donation website for users who want to send cryptocurrency to help Ukraine and its people.

In a statement on Monday, the Ukrainian Minister of digital transformation said that the Ukrainian government had launched the aid for Ukraine platform and received donations from BTC, ETH, usdt, dot, sol, Doge, XmR, ICX and Neo to "support people in fighting for freedom." Since 24 February, many parts of the country have been attacked by Russian troops.

According to the website, as of the time of writing this article, users have sent more than $48 million in cryptocurrency, accounting for about 24% of the platform's $200 million target. These funds will be sent to the National Bank of Ukraine to purchase "ammunition and necessities" to support the country's armed forces and humanitarian assistance projects. The Central Bank of Ukraine also receives donations in various legal currencies.

Anatoly Yakovenko, co-founder of Solana labs, said: "aid for Ukraine shows how the global crypto community and traditional financial system work together. Cryptocurrency contributions to the Dao are stored and managed on the chain, then transferred to the centralized exchange FTX, sold as legal US dollars and sent to the Ukrainian government through swift."

Facts have proved that cryptocurrency is a real life-saving straw because of its ease of use. We @mintsyfra make it easier to encrypt donations. We and @ evertake_ Pool and @ FTX_ Official announced the launch of a website where you can donate cryptocurrency to save Ukraine.

——Alex bornyakov (@ bornyakov) March 14, 2022

The platform integrates the wallet address list previously provided by the Ukrainian government using its twitter account. However, since Russia invaded Ukraine, some encryption companies have also announced that they will donate money to Ukraine. Kraken promised to distribute $1000 to each user who created an account in the country before March 9, while bored ape Yacht Club said it would donate $1 million of eth.

Cointegraph reported that as of March 9, wallets operated by various organizations and governments had received more than $108 million to help Ukraine. At this time, Russia is facing economic pressure due to sanctions from the United States and the European Union. Over the past two weeks, many private companies, including major banks Goldman Sachs, visa and MasterCard, have cut ties with the country