The Ukrainian government partnered with the cryptocurrency exchange platform FTX, which recently filed for bankruptcy, to raise hundreds of millions of dollars to fun its war against Russia.
The Ukrainian government website detailing the partnership, which set out to raise $200,000,000 in various forms of cryptocurrency, has been wiped from the internet following FTX filing for bankruptcy.
Ukraine’s Ministry of Digital Transformation is listed as an official partner of FTX on the initiative, which claimed to send funds the the National Bank of Ukraine.
The cryptocurrency trading platform’s pro-Ukraine position in the ongoing conflict between Russia and Ukraine comes amidst its CEO, Sam Bankman-Fried, also becoming the second largest donor to Democrats in the 2022 midterm election cycle.
”The official website for Aid For Ukraine, an initiative that raises funds from the crypto community for the benefit of Ukraine’s military and humanitarian needs, has officially launched. The initiative is powered by the Ministry of Digital Transformation of Ukraine, FTX, and Everstake,” explains a press release announcing the joint effort.
The “Aid For Ukraine” effort utilized FTX services to convert “crypto funds received into fiat and send the donations to the National Bank of Ukraine,” ultimately becoming the fifth-largest charitable foundation assisting in the country’s war effort.