Binance to send $30 million in help to Ukraine

$10 million will be allocated by the crypto exchange itself, another $20 million is planned to be collected by the Binance Charity platform affiliated with it

28.02.2022 - 07:15

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2 min

What’s new? Crypto exchange Binance plans to donate $10 million to solve the humanitarian crisis in Ukraine. This was stated on Twitter by the CEO of the platform Changpeng Zhao. He also noted that the subsidiary of the platform Binance Charity has launched a fundraiser of $20 million, which will go to help Ukrainian refugees and children.

#Binance is donating $10M to help the humanitarian crisis in Ukraine & @BinanceBCF launched the crypto-first crowdfunding Ukraine Emergency Relief Fund. 🇺🇦Our focus is providing on-the-ground support. We just care about the people.➡️ https://t.co/2vLFFbf5ac pic.twitter.com/vNSo9F3x7i— CZ 🔶 Binance (@cz_binance) February 27, 2022

Who will get the Binance money? The company clarified that it will transfer funds to large intergovernmental organizations and Ukrainian NGOs. The money should be used to help the victims and solve logistical problems.

What had happened before? Journalist Colin Wu reported last weekend that the cryptocurrency community had donated more than $13 million to Kyiv and a number of nonprofit organizations since Russia began its special operation in Ukraine.

SlowMist released the statistics of Ukraine's encrypted donations. As of 12:30 today (UTC+8), a total of 1349 ETH, 204 BTC and some stablecoins have been raised, with a total value of about 13 million US dollars. pic.twitter.com/rflSudDdAX— Wu Blockchain (@WuBlockchain) February 27, 2022