Binance Donates $2.5 Million in Crypto Assets to UNICEF to Help Distressed Ukrainian Children

UNICEF has urged businesses to donate funds in order to escalate humanitarian efforts in war-torn Ukraine.

By Radhika Parashar | Updated: 7 March 2022 20:42 IST

Binance Donates $2.5 Million in Crypto Assets to UNICEF to Help Distressed Ukrainian Children

Photo Credit: UNICEF

Binance had donated $10 million (roughly Rs. 75.5 crore) to Ukraine last week

Highlights

Bitcoin, Ether, Dogecoin donations reaching Ukraine
Binance has donated twice in two weeks to Ukraine
UNICEF plans to escalate help efforts in Ukraine

Binance crypto exchange has donated assets worth $2.5 million (roughly Rs. 20 crore) to UNICEF in order to help distressed children in war-ridden Ukraine. UNICEF, or United Nations Children's Emergency Fund is an international agency that provides humanitarian and developmental aid to children worldwide. Binance's crypto donations come at a time with assets such as Bitcoin, Ether, and Dogecoin have emerged as popular financial tools that could bring in magnified returns as per market movements. UNICEF has released a public statement regarding Binance's donation.

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

Russia waged a military invasion into Ukrainian territories on February 24 in the backdrop of unresolved and long-standing geopolitical conflicts.

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As per UNICEF, the lives of over 7.5 million children in Ukraine is under threat at this point, where, despite several rounds of diplomatic talks, 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.

In order to bag emergency funding during these times of crisis, Ukraine has begun accepting donations in cryptocurrency from around the world. Over the weekend, the official Twitter handle of Ukraine posted crypto wallet addresses for donations in Bitcoin and Ether.

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Last week, Binance donated $10 million (roughly Rs. 75.5 crore) to help the ongoing humanitarian crisis in Ukraine.

Over $54.7 million (roughly Rs. 420 crore) have been collected by Ukraine via 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,” Carla Hadid Mardini, Director of UNICEF's Private Fundraising and Partnerships Division, added.

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Further reading: Binance, Cryptocurrency, Ukraine, Donation

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More