NewsletterFTX CEO Joins Forces In Supporting Ukraine To Raise Crypto Donations
Amid the Russian invasion of Ukraine, the CEO of FTX, Sam Bankman Fried has come forward to help a crypto donation project. He humbly announced that FTX will be supporting the Ukrainian Ministry of Finance and other communities in collecting crypto donations for the country. The Ukrainian government has received over $60 million in crypto donations from all over the world.
FTX comes in support of Ukraine
FTX’s CEO, Sam Bankman Fried highlighted that the war in Ukraine has been dragging on. The country is in full need of humanitarian help and access to global financial infrastructure. He also called attention to sanctions and crypto during this kind of situation. He indicated that crypto exchanges should enforce sanctions announced by the government seriously.
FTX has stressed across all of its regulatory and policy efforts, active coordination and communication with regulators and policymakers is crucial to ensuring that laws and rules achieve their intended outcome, reads a letter by FTX
Pointing out the urgency to help the nation Sam Bankman announced that the FTX team is honored to support the Ukrainian Ministry of Finance in simplifying the donation process.
Incredibly excited and humbled to be working with the Ukrainian Ministry of Finance (@mintsyfra), @everstake_pool, and others to support crypto donations to Ukraine.https://t.co/hMcu2ucOvD
— SBF (@SBF_FTX) March 8, 2022
Everstake, a decentralized staking provider, expressed their gratitude towards FTX in this kind of situation. It also mentioned that FTX is the only platform that has come forward to help them.
How will FTX help Ukraine?
FTX will lend its support in the first project of its kind to the ‘Aid for Ukraine’ project. By setting up a Decentralized Autonomous Organization (DAO) the project will focus on 1) accepting crypto donations, and 2) directly offramp them in fiat currency into the Ukrainian central bank.
Earlier, the CEO of FTX has highlighted the growth of the cryptocurrency ecosystem in Ukraine and also mentioned how fiat currencies have cheapened following the Russian invasion.
However, the conflict between the two countries has shaken the world’s humanity and economy. To pressurise the Russian Government, a union of nations has announced some sanctions. Meanwhile, this has also led to rapid adoption and dependency on cryptocurrency.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Pi Coin Set for Major Adoption as Pi Network Officially Registers Under EU MiCA
- XRP Price Risks Falling Below $2 as Sentiment Dips to “Anxiety” Stage, Analyst Predicts
- 10 Best Crypto RWA Tokenization Platforms in 2025
- Michael Saylor Calls Strategy “Indestructible,” Says It Can Survive 80–90% Bitcoin Crash
- Crypto Market Faces New Macro Jitters Ahead of Nvidia Earnings, FOMC Minutes, NFP Jobs Data
- Why Are CRO, STRK & MYX Prices Up Today?
- Solana Price Prediction – Will the ETF Wave End SOL’s Multi-Week Downtrend?
- Ethereum Price Forms Rare Pattern as Tom Lee Makes Bold Prediction
- Is Dogecoin Price Set for a Recovery as Grayscale ETF Speculation Intensifies?
- Will MOODENG Reach $0.1 and MEW Hit $0.002 After Robinhood Listing?
- What’s Next for Cardano Price After Breaking Below Key Support Level?
