Binance Donated $2.5 Million in Cryptocurrency to Support Ukrainian Children

In its official statement, UNICEF thanked the leading cryptocurrency exchange for its support and revealed that the aid came at the right time. Binance charity has worked with UNICEF and other cryptocurrency players to support war-torn Ukrainian children. The exchange donated $2.5 million in cryptocurrency through its charity.

Binance Gives a  Hand to Ukraine

The donation aims to help UNICEF assist Ukrainian families affected by the Russian Ukrainian war.With the escalation of the conflict, the lives and well-being of 7.5 million children in Ukraine are constantly threatened. This perpetuates the need for humanitarian support, as many of them are believed to be affected by surrounding violence, resulting in physical and psychological problems.

According to Zhao CHANGPENG (CZ), founder and CEO of binance, the escalation of the conflict is indeed shocking. Many families are migrating to seek asylum, while others are separated from their friends and family.
UNICEF is working with the government of Ukraine at the regional level to support community projects. One of the tasks is to entrust mobile teams to provide child protection services. CZ has made public his commitment to help fund charitable projects in cooperation with UNICEF.In his words: “we are very grateful for our continued cooperation with UNICEF. With the support of the binance community, UNICEF provides emergency relief to help alleviate some of the suffering faced by these children and their families.”

In its official statement, UNICEF thanked the leading cryptocurrency exchange for its support and revealed that the aid came at the right time. According to the agency, it relies on the generosity of the global business community to help Ukrainian children, who are “terrified, shocked and desperate for safety”.Available data show that the Russian invasion has damaged a variety of infrastructure and livelihoods, especially in northern Ukraine. Both governments have implemented different cash flow restriction systems, which further tarnished the situation of residents.

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Cryptocurrency Helps Ukraine Finance its Defense

In the process of resisting the Russian invasion, the Ukrainian government relied on the kindness of the cryptocurrency community and the world. According to reports, the government has raised about $70 million worth of cryptocurrency funds, and it has spent $15 million on military equipment.

Although it accepts major digital assets such as bitcoin, Ethereum and some stable currencies, the cryptocurrency community has helped the country increase the number of assets it accepts because donations come from dogecoin and Polkadot.

On the other hand, Russia is facing some restrictions from the international community, and they have imposed sanctions on its economy. Recently, leading financial technology service providers such as PayPal, visa and MasterCard suspended their business in the country.