Binance donates $10 million to charities in support of Ukraine
Binance announced several measures to support the Ukrainians in the fight against the Russian invasion. First, the crypto exchange donated $10 million to different government or non-profit organizations. Then, Binance launched a crowdfunding platform. The exchange has matched $6 million on this platform. Finally, Binance says it collaborates with several groups that are involved in bringing refugees across the border.
The conflict in Ukraine has generated a huge wave of support for the people of Ukraine. The same is true in the crypto realm. Binance, one of the largest crypto exchanges in the world has decided to participate in this effort. A fine example of solidarity for this crypto heavyweight and its Chinese CEO Changpeng Zhao.
Binance Offers 10 Million Dollars To Associations…
Binance has thus announced a donation of 10 million dollars in favor of associations to help Ukraine. Donations will be made through the exchange’s foundation, the Binance Charity Foundation.
Governmental or non-profit associations are affected by this approach, for example:
- UNCHR (UN Refugee Agency);
- international Strategic Action Network);
- People in Need.
“Binance has pledged to donate a minimum of $10 million to support the humanitarian crisis in Ukraine through the Binance Charity Foundation. Donations (…) serve to help and support displaced children and families in Ukraine and neighboring countries. » Binance
… And Launches A Fundraiser
Binance does not stop there and launches fundraising at the same time. The crypto exchange has created a crowdfunding platform called “Humanity First – Ukraine Emergency Relief Fund”. The exchange has already given away 16,042 BNB, the equivalent of around $6 million. Other donations are added from time to time. At the time of writing, the platform has registered $6.4 million.
“Binance has also launched a first crypto 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. » Binance
The Binance platform finally specifies that it works in close collaboration with certain groups of refugees who are in charge of bringing the Ukrainians across the border. Binance’s approach testifies to the mobilization of the cryptosphere.
Binance’s appeal comes alongside that of the Ukrainian government which has set up crypto wallets to receive donations. These donations can be made in Bitcoin, Ethereum, or USDT. More than 10 million dollars were thus collected.