Ukraine-Based Blockchain Company Slams 'Fake News' For Crypto Donation Rumors Amid FTX Collapse

Sergey Vasylchuk, CEO of Everstake, said the people behind the Russian propaganda used the fall of FTX "to tell another story about money laundering".

Everstake, a blockchain company that has partnered with the Ukrainian government to launch a donation website amid the country's war with Russia, has pushed back against online rumors and conspiracy theories that the platform -form was used for politically motivated money laundering.

Ukrainian government officials teamed up with Everstake, Kuna, and the now infamous crypto exchange FTX to launch Aid for Ukraine in March after the Russian military invaded. According to the platform, crypto users and supporters of Ukraine have sent around $60 million in crypto and fiat intended to support Ukraine's armed forces and other humanitarian causes. However, with liquidity issues and the bankruptcy of FTX, Sam Bankman-Fried apparently falling out of favor and possible legal action against the company and its executives, social media users have taken many liberties with the truth speculating on the final destination for crypto donations. /p>

Conspiracy theories being promulgated online falsely claim that due to his association with FTX and Bankman-Fried's previous political donations, Ukraine aid funds ended up funneling to the Party United States Democrat. An Everstake spokesperson called the rumors Russian propaganda, spread by North Carolina Rep. Madison Cawthorn's Twitter account, and "biased media, like Fox News and Russia Today."

According to Everstake, the misrepresentations do not "correspond to reality" given that the majority of the funds have already gone towards helmets, body armor, a...