Binance, one of the world's largest centralized cryptocurrency exchanges, has just announced that it will be donating a whopping $10 million to Ukraine. With the surge in cryptocurrency donations, Binance has decided to join in and give a significant donation to the country while Vitalik Buterin, Ethereum's founder, announced UkraineDAO.
Binance Announces $10 Million Donation to Ukraine
According to the story by KoinAlert, the world's "largest cryptocurrency exchange by trading volume" has just announced that it will be donating $10 million to Ukraine. As per the article, the donations are directed towards helping Ukraine's crisis is reportedly still ongoing.
As per Binance's official Twitter account, the company announced that they would be donating $10 million to help "the humanitarian crisis in Ukraine. The company announced that its focus is directed to providing charity & collaboration as support on the ground.
Launch of the Official 'Ukraine Emergency Relief Fund'
Binance has officially launched the "Ukraine Emergency Relief Fund" for them to be able to "provide emergency relief" directly through crypto crowdfunding. In addition, should anyone be interested in donating towards the fund, Binance pointed them towards the company's official website.
As per Binance's official post, $10 million USD donations will reportedly be given to major "Intergovernmental Organizations and local NGOs." With that, the fund is expected to help by giving emergency relief to the children and refugees to support on-the-ground logistics, including fuel, food, and supplies directly towards refugees in particular companies that are currently bordering with Ukraine.
UN Currently Reports 120,000 People Fleeing from Their Homes
As per the official Binance website, since Russia launched a "full-scale military invasion on Ukraine," the particular conflict was said to turn into a humanitarian catastrophe potentially. 48 hours after the stated "invasion," the UN currently reports 120,000 people that have "already fled their homes."
Certain neighboring countries, just like Poland, for example, estimated that it would be receiving up to a million refugees. With that, Binance announced that it would be donating the $10 million while inviting others to donate crypto to Ukraine through the website.
Ethereum Founder Vitalik Buterin Announces UkraineDAO
The founder of Ethereum, Vitalik Buterin also shared a tweet of UkraineDAO stating that it was an "opportunity to support Ukrainians here" and that all of the proceeds that the DAO receives will be going directly towards "civilian efforts" when it comes to helping Ukrainians that are suffering.
Others shared an official tweet where BTC, ETH, and USDT are accepted in reply to the tweet. As of the moment, Binance's official website notes that $0 has been donated to their charity which aims to raise a whopping $19,985,003.70 in donations.
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Written by Urian B.
