Changpeng Zhao, the CEO of the exchange platform Binance, wanted his company to participate in initiatives for Ukraine. Indeed, he announced on Twitter that Binance has made a donation of $10 million. This amount will be allocated to provide humanitarian aid to the civilian population. To date, this is the largest payment made by a cryptocurrency and blockchain player.
Binance makes humanitarian donation to Ukraine
The cryptocurrency and blockchain world continues to support Ukraine through donations. While these were originally intended for the armed forces, it is now the aid to the civilian population that is emphasized.
For example, Changpeng Zhao, the CEO of Binance, announced on Twitter that his company had donated $10 million to humanitarian aid in Ukraine.
It was not specified where exactly the money would go. But it is likely to be classic humanitarian aid, through, for example, the purchase of food or the provision of fuel.
The cryptocurrency industry is coming to the aid of Ukraine
This $10 million donation is not the only one that Binance wants to achieve. Indeed, the platform has launched a participatory funding called Ukraine Emergency Relief Fund. The goal is to raise $20 million in Bitcoin (BTC) to help the civilian population that has stayed behind or taken refuge in neighboring countries.
Since its invasion by the Russian army last Thursday, international aid for Ukraine has multiplied. The digital assets and blockchain sector has fully participated in this solidarity action. In fact, the Ukrainian government is now accepting donations in cryptocurrencies.
The founder of the Ethereum blockchain (ETH), Vitalik Buterin, possessing both Russian and Canadian nationalities, has severely condemned Russia’s incursion. In addition, a Decentralized Autonomous Organization (DAO), called Ukraine DAO, has also been launched in support of Ukraine.
This surge of solidarity is important for the sector, as some thought that cryptocurrencies would only be useful to allow Russia to escape international sanctions. So we see that this is far from being the case.