FTX CEO Joins Forces In Supporting Ukraine To Raise Crypto Donations

Published by
FTX 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.

Advertisement

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.

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.

Advertisement

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.

Advertisement
Share
Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

FOMC Meeting Today: Where to Watch and Key Expectations for Crypto Market

Global investors, including those in the crypto market, await key cues from the FOMC Meeting…

October 29, 2025
  • News

Changpeng ‘CZ’ Zhao Confirms Defamation Lawsuit Plans Against Sen Elizabeth Warren

Binance founder Changpeng Zhao, aka CZ, on Wednesday confirmed reports of defamation lawsuit plans against…

October 29, 2025
  • News

Pi Coin Gains Another 15% As Pi Network Joins ISO 20022 For Seamless Banking Integration

Pi Network's native cryptocurrency, Pi Coin, is getting major attention with a continued rally upwards,…

October 29, 2025
  • News

Bitwise Solana Staking ETF (BSOL) Records $69.5M Inflows on Debut, But SOL Slips

Bitwise Solana Staking ETF (BSOL) makes an impressive debut with massive inflows and trading volumes,…

October 29, 2025
  • News

Trump Insider Whale Reloads $430M Long on BTC, ETH Ahead of Tomorrow’s Fed Rate Cut Decision

The “Trump Insider whale” has reportedly opened a $430 million long position in Bitcoin and…

October 29, 2025
  • News

Breaking: $2.6B Western Union Announces Plans for Solana-Powered Stablecoin by 2026

Western Union has announced plans to launch a U.S. dollar-backed stablecoin built on the Solana…

October 28, 2025