Binance donates $10 million in crypto to humanitarian efforts in Ukraine after Russian invasion

Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has announced that it will donate $10 million (about Rs 75.5 crore) to Ukraine, claiming that the donation is aimed at the ongoing humanitarian crisis in the country. is to help. Binance has also launched a fund called Ukraine Emergency Relief Fund – to provide emergency relief through crypto crowdfunding with an official website that people can visit and find out how to cause To be donated

According to Binance, $10 million (about Rs 75.5 crore) will be donated to major intergovernmental organizations and local NGOs. The donation will be divided between leading intergovernmental organizations and non-profit organizations, including UNICEF, UNHCR, the UN Refugee Agency, ISSAN and People in Need, to help displaced children and families in Ukraine and its neighboring countries. the exchange said Press release,

Changpeng Zhao, Founder and CEO BinanceSaid: “Seeing this struggle escalating over the past four days has shocked our community at its core. We are proud that we have been able to rapidly rally our network to provide on-the-ground relief and assistance to those in need. Huh.”

“This includes helping to provide food, fuel, supplies and shelter for Ukrainians, including countless Binance community members. We are using every resource and government channel to help us fight this conflict,” Zhao said. The world leaders will have to be called to end immediately.”

Meanwhile, Ukraine continues to record a significant influx of crypto donations, valued at $30 million (approximately Rs. express their support between attack. Blockchain analytics firm Elliptic. data provided by It shows That the Ukrainian government and NGOs have raised $17.2 million in crypto donations, with Binance adding another $10 million (about Rs 75.5 crore) in crypto, taking the tally to $27.2 million (about Rs 205 crore).

Bitcoin donations started in Ukraine Deposit When Russia was threatening to proceed with the invasion on 8 February. The charity was led mainly by Ukrainian volunteers and hacking groups that have been at the forefront of condemning Russia’s militant activity.

Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, business advice or any kind of advice or recommendation given or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.

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