The war situation in Ukraine is not good. This has resulted in the entire crypto community coming together to contribute to their help. Binance has also opened an emergency fund as it donates $10M to Ukraine itself. Their goal would be to provide ground support to the people who are stuck in the war zone. The CEO of Binance tweeted about his yesterday, saying that “We just care about the people.” You can also contribute to the fund with the link provided in the tweet.
The Ukrainian government has called upon the crypto community to pledge support in a series of appeals on social media over the weekend. Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov posted three addresses for crypto donations on Saturday.
The $10M donated by Binance was passed to major organizations and NGOs in the country to help the citizens. Food and supplies are the biggest problems in war, and this is being dealt with with the funds. The emergency fund started by Binance, alongside its donation, has also raised $6 million already. It’s not just Binance; other crypto exchanges have come forward and tried to create a difference in their own way.
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 (CRYPTO: BNB), with the equivalent value of $6 million, has already been made by Binance.
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.
Ukraine country is one of the few nations to make it really easy for citizens to trade and exchange cryptocurrencies. They push innovation in the same and have implemented rules that favor the crypto community. Even the government understands the benefits and potential of crypto. This is why they tweeted from the official account asking for donations in cryptocurrency to prevent intermediaries. If you wish to donate to the cause, it is a good thing, but remember to verify the address where you send your crypto.
