Binance gives $2.5M in Crypto for Ukrainian Children Help Fund

• Ayushi Abrol
• March 07, 2022

With Russia intensifying its invasion attacks on Ukraine, people from every corner of the world are sending their help to the Ukrainians in some form or the other. There have been overflowing financial support wired towards Ukraine and its people who are struggling to meet their basic requirements amid the worsening conditions in the state. The latest addition to the list of donors is Binance Charity which has vowed to offer $2.5M in crypto to UNICEF to help the children bearing the consequences of an unfortunate historic event.

Binance and UNICEF Team Up For the Noble Initiative

Thriving as the non-profit charitable unit of one of the world’s largest cryptocurrency exchanges Binance, Binance Charity is using crypto to support the relief operations in Ukraine. The fund will be used by UNICEF to cover the expenses spent by the organization in bringing relief to the children and families disturbed by the war. Ever since the announcement of the Russian war, there has been active participation from the global crypto industry in providing support and financial assistance to the Ukrainian people.

In response to this support, UNICEF released an official statement thanking Binance for making the necessary contribution. The funds came at the right time to counter the impact of the aggravating armed conflict on families and kids. The penetration of Russian forces and continuous attacks in multiple areas of the country have majorly affected the lives of people living in north Ukraine. The President’s urge to natives to join the militia force and imposition of limitations on the regional cash flow has not improved the situation of the locals living in the epicenter zones of war.

The UNICEF team is working hard to provide basic amenities to the people including water, education, and safety to children; offering health and hygiene aid to natives; working closely with Ukraine’s local government to support their community initiatives; and providing mobile teams focused to offer child safety services. Talking about the donation, Binance CEO, Changpeng Zhao stated that the firm will continue to partner with UNICEF in managing such charitable programs.

The escalating Russia-Ukraine war has left some serious impact in the crypto sphere. The repercussions are so deep that the war is termed as the world’s first ‘crypto war’ by industry people. The government of Ukraine started accepting donations in Bitcoin, Ethereum, stablecoins, DOGEcoin, etc. The country managed to pool several millions of dollars as crypto funds quickly. There are speculations of Russia resorting to cryptocurrencies to reverse the financial crunch imposed by the USA and other countries. The spearhead of Binance has shared a skeptic viewpoint in this as he feels that it is not possible for the country to use crypto as a tool to revive its economy.

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