Binance Charity Donates $2.5M In Crypto For Ukrainian Children

Binance Charity donated $2.5 million in crypto for the Ukrainian children that are suffering amidst the war inflicted by Russia as we can see further in today’s latest binance news.

Binance charity donated $2.5 million in crypto to UNICEF as a gesture for the children of Ukraine during times of war. Binance donated to help the children of Ukraine in the country’s war against Russia which joined a wave of individuals in the crypto ecosystem that started giving money and taking a stand for the struggling in the country.

Binance Charity as the nonprofit charitable arm of Binance announced a $2.5 million in crypto donated to UNICEF and the goal is to help cover the organization’s expenses as it supports Ukrainian children and families that were heavily affected by the war. In the official statement, UNICEF thanked Binance for the contribution and assured that the money came at the right time with the escalation of the armed conflict is affecting the population.

The advance of Russian troops and attacks on infrastructure points affected the lives of those living in the northern part of Ukraine with the president’s calls for civilians to join the militia and the restrictions on the regional cash flow which helped to improve the situation for the residents of the conflict zones. UNICEF’s efforts are focused on providing water, protection, and education to children which promotes health and hygiene assistance to communities that are working with Ukraine’s regional governments to back the community support programs which support mobile teams that provide child protection services.

The CEO of Binance Changpeng Zhao shred his willingness to continue to provide assistance to charitable initiatives in partnership with UNICEF. He said:

“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 sufferings these children and their families are facing.”

The Russia-Ukraine war issue had major repercussions in the crypto universe to the point that was called the world’s first crypto war. On the Ukrainian side, the government started accepting donations of BTC, ETH, and stablecoins in an attempt to raise the budget for the war. Ukraine’s wallets ramped up to start accepting other altcoins like DOGE, DOT to reach several million dollars in funds. Of those funds, Ukraine spent $15 million on military equipment and there’s no information on the expenditures that were allocated for humanitarian work.

On the other hand, a lot has been speculated about the chance of Russia to turn to cryptocurrencies as a way to void sanctions imposed by the US and allied countries but there has been no official announcement on the matter.