Binance donates $10 million to Ukrainian migrants

Binance, the world’s largest cryptocurrency exchange, will donate $ 10 million to aid Ukrainian refugees. The trading platform’s official Twitter account confirmed this.

According to the Binance blog, Ukraine is amidst a humanitarian crisis. As per the United Nations, 120,000 people have already evacuated their homes. 

The exchange gives $10 million to large intergovernmental organizations that assist nations bordering Ukraine and hosting refugees with the procurement of food, fuel, and other necessities.

To respond to this crisis, we have provided $10 million to key non-governmental organizations and local NGOs on the ground.”

“Humanity First: Ukraine Emergency Relief Fund,” a newly launched binance charity initiative, aims to raise $ 20 million to safeguard children, refugees, and internally displaced persons in Ukraine (internally displaced people).

This is not the first humanitarian endeavour undertaken by Binance. In March 2020, the exchange’s charitable foundation launched the Crypto Against COVID project to rally the cryptocurrency community in support of those affected by the coronavirus pandemic. 

Then Binance launched the campaign, donating $ 1 million in the BUSD stablecoin. The exchange also pledged to allocate an additional $ 1 million following the campaign’s results on social networks. Binance Charity always promises all donors and participants in the program to ensure maximum transparency during the implementation of the charitable initiative.

The funds raised were used to purchase medical and protective equipment for medical organizations in Italy, Germany, Spain, South Korea, Iran, Turkey, the United States, and the United Kingdom.

Read Also: Russian banks are barred from using SWIFT by the West

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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