Binance, one of the largest cryptocurrency exchanges in the world, has announced that it will not be exempt around the conflict between Russia and Ukraine.
Thus, the company, although it has a declaration that it will not adopt sanctions against citizens of Russia, will allocate US$ 10 million to help and fight the humanitarian crisis in Ukraine through its Binance Charity foundation.
Binance donates $10 million
Therefore, as announced by the exchange, the donation will be divided between the main intergovernmental institutions and non-profit organizations working in the region, including UNICEF, UNHCR – the UN refugee agency -, iSans and People in Need, to support homeless families and children in Ukraine and neighboring countries.
Thus, another action announced by the exchange was a crypto crowdfunding site, the Ukraine Emergency Relief Fund, to allow people to also donate cryptocurrencies and give emergency aid to refugees and children, as well as to support on-site logistics with food, fuel and supplies for refugees.
Therefore, an initial donation of 16,042 BNB, worth the equivalent of US$6 million, has already been made by Binance.
Thus, CZ, the founder of Binance highlighted that Russia’s invasion of Ukraine shocked the cryptocurrency community.
“We are proud to have been able to quickly bring our network together to provide relief and support in the field of basic needs to those who need it most. This includes helping to bring food, fuel, other supplies and shelter to Ukrainians, who include countless members of the Binance community.”
So he also urged world leaders to end the conflict immediately.
Binance is also working with several local refugee groups that are actively working to expedite the passage of Ukrainians across the borders of two neighboring countries.
Thus, UNHCR has been on Ukrainian soil since 2014 providing essential relief and shelter for refugees. With a long-standing presence in the region, the institution maintains field operations across the country and has warehouses with pre-positioned relief items and shelter kits.