Binance donates $10 million for Ukraine crisis

    01 Mar 2022

    Binance, a global cryptocurrency exchange, on Sunday announced a $10 million donation to help the humanitarian crisis in Ukraine. This is by far the largest amount donated by the crypto industry. Previously, Changpeng Zhao, CEO of Binance, said it included ground logistics, food, fuel, supplies, refugees, places to stay, visas, and more.

    Binance, the world’s leading crypto and blockchain infrastructure provider, has committed $10 million minimum to help the humanitarian crisis in Ukraine through its Binance Charity Foundation. The donation will be split between major intergovernmental organizations and nonprofit organizations already on the ground, including UNICEF, UNHCR, the UN Refugee Agency, iSans and People in Need, to help support displaced children and families in Ukraine and its neighboring countries.

    Binance has also launched a crypto-first crowdfunding site, called Ukraine Emergency Relief Fund to allow people to donate crypto to help provide emergency relief to refugees and children and to support logistics on the ground such as food, fuel and supplies for refugees. A donation of 16,042 BNB, with the equivalent value of $6 million, has already been made by Binance.

    “Watching this conflict escalate over the past four days has shocked our community to its core,” said Changpeng “CZ” Zhao, Founder and CEO of Binance. “We are proud to have been able to quickly rally our network to provide relief and support on the ground to those in need. This includes helping provide food, fuel, supplies and shelter for Ukrainians, which include countless Binance community members. We are using every resource and governmental channel we have to call on world leaders to end this conflict immediately.”

    Binance is also working with a number of local refugee groups who are actively working to expedite Ukrainians’ passage across the border into safety in two neighboring countries.

    In collaboration with UNICEF Luxembourg Committee, Binance Charity has worked together to provide assistance following the Beirut Explosion and to support COVID-19 global vaccination efforts (COVAX). Our latest donation will go towards protecting the welfare of Ukraine’s 7.5 million children. As the conflict escalates so will the needs of the children and their families. UNICEF’s current actions include pre-positioning of critical supplies, providing safe drinking water, supporting families on the move, child protection, emergency educational resources and psychosocial support.

    Since its inception in 2018, Binance Charity has donated $10 million to support projects helping in the wake of global disasters and to tackle complex social and environmental issues.

    As reported before, blockchain analytics firm Elliptic revealed that donations being funneled to the Ukrainian army in cryptocurrencies have reached $4.1 million in crypto in 3 days since the invasion began.

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