Through their Charity Foundation, Binance, the world’s biggest crypto and blockchain infrastructure provider, has pledged a minimum of US$10 million to aid the humanitarian situation in Ukraine.
The donation will be shared among major intergovernmental and nonprofit organizations already operating in Ukraine, such as UNICEF, UNHCR, the UN Refugee Agency, iSans, and People in Need. The fund will be used to help support displaced families and children.
Binance has also created Ukraine Emergency Relief Fund. This crypto-first crowdfunding platform allows individuals to give crypto to assist emergency relief to refugees and children and support logistics on the ground such as food, gasoline, and supplies for refugees.
Binance came front to address the issue
Russia started a full-scale military invasion of Ukraine on February 24, 2022. The war has the potential to wreak havoc on the humanitarian situation.
The UN estimates that 120,000 people have fled their homes in the 48 hours since Russia started a full-scale invasion of Ukraine. Refugees are being taken in by neighboring countries. Poland, for example, has calculated that up to one million refugees might be received.
Binance, as of now, collected and donated 154.32 BTC ≈ $5,870,008.85 to major intergovernmental organizations and local NGOs.
CZ, Founder, and CEO of Binance said:
“Watching this conflict escalate over the past four days has shocked our community to its core. We are proud to have quickly rallied our network to provide relief and support on the ground to those in need. This includes helping provide food, fuel, supplies, and shelter for Ukrainians, including countless Binance community members. We are using every resource and governmental channel we have to call on world leaders to end this conflict immediately.”
Binance Charity and UNICEF have a long-standing partnership through their Luxembourg Committee, having worked together to aid during the Beirut Explosion and promote COVID-19 worldwide immunization initiatives (COVAX).
Their most recent contribution will be used to safeguard the well-being of Ukraine’s 7.5 million youngsters. As the situation worsens, so will the children’s and their families needs. UNICEF’s current initiatives are pre-positioning of crucial supplies, giving safe drinking water, assisting families on the move, child safety, emergency educational resources, and psychosocial support.