Reported by: Anna Baydakova

Alex Bornyakov, deputy minister of digital transformation of Ukraine, took to Twitter Monday night to officially deny a conspiracy theory around the country’s crypto fundraising effort.

“A fundraising crypto foundation @_AidForUkraine used @FTX_Official to convert crypto donations into fiat in March. Ukraine’s gov never invested any funds into FTX. The whole narrative that Ukraine allegedly invested in FTX, who donated money to Democrats is nonsense, frankly,” Bornyakov tweeted, ending with a “facepalm” emoji.

Last week, a theory spread on Twitter and right-wing websites suggesting the U.S. government’s massive aid to the besieged nation rebounded to the U.S. Democratic party via the failed FTX crypto exchange, which was an official partner of Ukrainian government for the crypto fundraising campaign.

Ukraine, which raised hundreds of millions in crypto this spring, in addition to a traditional fiat campaign to support its military and civilian population, partnered with FTX in March to cash out crypto donations and turn them into ammunition and humanitarian aid. FTX, along with the Ukrainian exchange Kuna, became a platform for turning crypto into actual goods for the nation at war.

Read full report: https://finance.yahoo.com/news/ukrainian-official-refutes-ftx-ukraine-222336430.html