UNICEF Recieves Crypto Dination of $2.5M from Binance to Help Troubled Ukrainian Children

By: Sparsh Dayal

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Updated on: 08-Mar-2022

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Binance crypto trade has donated resources worth $2.5 million (generally Rs. 20 crores) to UNICEF to help troubled youngsters in war-ridden Ukraine. UNICEF, or United Nations Children's Emergency Fund is a global organization that gives a humanitarian and developmental guide to children around the world. Binance's crypto gifts come at a time with assets like Bitcoin, Ether, and Dogecoin that have arisen as popular financial tools that could bring in amplified returns according to market movements. UNICEF has made a public announcement in regards to Binance's gift.

"The funds donated by Binance Charity come at a crucial time, with UNICEF needing to scale up its activities in Ukraine and neighboring countries to reach every child in need of protection," the children-centric UN association said.

Russia pursued a military intrusion into Ukrainian regions on February 24 in the setting of unsettled and long-standing geopolitical conflicts.

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According to UNICEF, the lives of over 7.5 million youngsters in Ukraine is in danger now, where, regardless of a few rounds of diplomatic discussions, Russia and Ukraine have not reached any settlement.

"The rate at which this conflict is escalating has shocked the world. To think just over a week ago Ukraine's children were laughing, playing, attending school; and now we're hearing of children casualties, thousands forced to flee or take shelter, it's heartbreaking," said Changpeng Zhao, the Founder, and CEO of Binance.

To sack the crisis funding during these times of emergency, Ukraine has started appreciating donation helps in cryptocurrency from around the world. At the end of the week, the official Twitter handle of Ukraine posted crypto wallet addresses for donations in Bitcoin and Ether.

Last week, Binance gave $10 million (generally Rs. 75.5 crores) to help the continuous humanitarian crisis in Ukraine.

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More than $54.7 million (generally Rs. 420 crores) have been gathered by Ukraine through crypto donations, CNBC reported citing numbers from analytics firm Elliptic.

"Children in Ukraine are terrified, in shock, and desperate for safety. We rely on the generosity and support of the global business community to help UNICEF reach those children and their families," commented Carla Hadid Mardini, Director of UNICEF's Private Fundraising and Partnerships Division.