Binance Charity has joined a wave of crypto donors seeking to help Ukrainians pull through their fightback against Russia’s invasion. The philanthropic arm of the leading cryptocurrency exchange made a $2.5 million crypto donation to the United Nations International Children’s Emergency Fund (UNICEF) to support the organization’s efforts to help affected Ukrainian children and families survive the ongoing crisis in their country.
Organizations and international regulatory bodies are making efforts to frustrate the Russian invasion as war continues to threaten the lives and properties of Ukrainian residents. Apparently, cryptocurrencies have proven to be a hedge against tension-induced economic woes as crypto donations have been the most adopted form of financial support made to the attacked country to help them survive these life-threatening moments.
Binance Joins Fight Against Russia’s Attack
Just a few days after Binance reportedly declined the Ukrainian government’s call to cease offering crypto services to clients in Russia, the exchange is already taking measures to support the Ukrainians in their defense against the Russia-induced war.
According to a recent report, Binance eventually joined the list of companies and financial institutions that have decided to disable some services for sanctioned Russian clients amid concerns about the escalating war induced by Russia. The exchange restricted crypto traders who operate an account with sanctioned Russian banks from purchasing cryptocurrencies on the platform with their cards.
With concerns about helping UNICEF scale up its activities in Ukraine and neighboring countries to reach every child in need of protection, the Binance community has further rendered financial support in cryptocurrencies to the organization.
The Founder and CEO of Binance, Changpeng Zhao explained that the community is pleased to support UNICEF in their mission to ease the Ukrainians off their struggles amid the ongoing war. His statement reads:
“The rate at which this conflict is escalating has shocked the world. To think just over a week ago Ukraine’s children were laughing, playing, attending school; and now we’re hearing of children casualties, thousands forced to flee or take shelter, it’s heartbreaking. We’re grateful for our ongoing collaboration with UNICEF, which with the support of the Binance community, provides emergency relief to help ease some of the suffering these children and their families are facing.”