https://arab.news/cuuth
- Short-term selling by investors has prevented Bitcoin and other digital assets from making sustainable gains
RIYADH: The Ukrainian Ministry of Digital Transformation has launched the official “Aid For Ukraine” website to raise funds in cryptocurrency to support the country's armed forces and humanitarian aid programs in its war against Russia.
The crypto donation platform is in partnership with staking service provider Everstake and crypto exchange FTX, Bitcoin.com reported.
Mykhailo Fedorov, vice prime minister of Ukraine, tweeted on Monday confirming that the official website had been launched.
“Aid For Ukraine is cooperating with the cryptocurrency exchange FTX which converts crypto funds received into fiat and sends the donations to the National Bank of Ukraine,” the new donation website said.
“This marks the first-ever instance of a cryptocurrency exchange directly cooperating with a public financial entity to provide a conduit for crypto donations.”
The website lists crypto addresses, in addition to the Ukrainian government bank account information for the donation.
Donors can send several cryptocurrencies, including Bitcoin, Ethereum, Tether, Polkadot, Solana, Dogecoin, and Monero.
The donation site indicates that the community has raised more than $50 million, according to Bitcoin.com.
Daily trading
Bitcoin, the leading cryptocurrency internationally, traded higher on Wednesday, rising by 4.94 percent to $40,303 at 11:50 a.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $2,678, up by 6.26 percent, according to data from Coindesk.
Other news:
The sudden rise in Bitcoin on Wednesday pulled the largest cryptocurrency out of the narrow range it had spent most of the past week.
Bitcoin has spent the past few days mired in its narrowest trading range since October 2020, a phenomenon that some market watchers attribute to long-term holders of the coin stepping in to buy whenever the token drops.
Meanwhile, short-term selling by investors has prevented Bitcoin and other digital assets from making sustainable gains, Bloomberg reported.