Despite the Russian-Ukraine crisis having made a piteous situation, fundraisers all over the world stretch their hands for Ukraine. Recently, crypto exchange Binance announced $10 million in contributions to Ukraine to help its humanitarian crisis. The exchange will donate the amount through its Binance Charity Foundation.
#Binance is donating $10 million to help the humanitarian crisis in UkraineOur focus is providing on-the-ground support through charity & collaboration.@BinanceBCF also launched the Ukraine Emergency Relief Fund to provide emergency relief through crypto crowdfunding.— Binance (@binance) February 27, 2022
The donation will be divided between major non-profit organizations and intergovernmental organizations like UNICEF, the UN Refugee Agency, UNHCR, People in Need, and iSans. Moreover, the donation would help displaced people in Ukraine and as well as other neighboring countries.
A press release by Binance states that it has already collected $6 million BNB.
Focusing more on financial aid, Binance has also unrolled a crypto-first crowdfunding site — Ukraine Emergency Relief Fund as emergency relief to refugees. Here, people all around the world can donate crypto to provide food, fuel, and other emergency supplies for refugees.
However, many local refugee groups have been actively helping citizens to cross the border. These groups are also collaboratively working with the Binance team.
In the past, Binance’s Luxembourg Committee has worked with UNICEF to provide support in the midst of the Beirut Explosion. It has also shared efforts for COVID-19 vaccination globally. Regarding the current donation, the team focuses on welfare and charity for 7.5 million children of Ukraine.
To add, cryptocurrency contributions for Ukraine set a new wave of financial support for the citizens. Last week, Bitcoin’s contribution surged to over $400,000 BTC, as reported by blockchain analytic firm Elliptic.