Binance to Donate $10M to Ukraine Refugees, Opens Crowdfunding Project
Binance said the money will be donated to NGOs on the ground to help refugees and children.
Feb 28, 2022 at 9:06 a.m. UTCUpdated May 11, 2023 at 7:11 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/53GABHFZMZHQ3DSOAN2PKK6SGU.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Binance will donate $10 million to intergovernmental and nongovernmental organizations (NGOs) to provide emergency relief to Ukrainian refugees and children, the worlds' largest cryptocurrency exchange said in a media release.
- Binance will allocate the funds through organizations on the ground, including UNICEF; UNHCR, the United Nations refugee agency; the International Strategic Action Network for Security (iSANS) and People in Need. The company has an existing partnership with UNICEF.
- The donation is in addition to a crypto crowdfunding project, "Humanity First – Ukraine Emergency Relief Fund," which has a target of almost $20 million. "To help the people of Ukraine please join us by donating crypto directly," Binance said.
- Donations can be made in BNB, BUSD, bitcoin and ether. Additional charities may be added in due course, said a Binance spokesperson via email. At publication time, the fund had raised about $5.9 million.
- Donated funds will be used "to support logistics on the ground such as food, fuel and supplies for refugees in countries bordering with Ukraine and more."
- The partnership with UNHCR will "provide immediate emergency relief such as food, water, medical supplies and working to improve the living conditions in temporary shelters."
- Binance will support iSANS, which "first set up an organization in Poland in 2020," and People in Need, which has an operation in Slovakia, to open up "another critical path of exit for people."
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/1222d2e5-6f64-4594-8214-6b862acb0f78.png)