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After FTX, Binance to donate $10M to Ukraine

russia ukraine ftx

As Ukraine continues to get international support, the Russian troops are working round the clock to penetrate the borders by invading the capital Kyiv. Also, many experts from most sectors are haunted over the fear of worse case scenarios like cyber security and cyberwar.

Whereas, many large companies in crypto like FTX and Binance are showing their continued support for Ukraine. Last week FTX announced donating $25 to every registered Ukrainian. Recently Binance has announced a $10M support for Ukraine. Along with this, Binance is starting an emergency fund for the affected country naming ‘The Ukraine Emergency Fund’ and have raised over $6M till now.

Binance CEO, CZ informed about the donation in his latest tweet on his Twitter handle. Also, he urged people to donate as much as they can to support the people of Ukraine, refugees, and the military. Through a blog post, Binance stated that it is working with several intergovernmental organizations and nonprofit organizations including UNICEF, UNHCR, and UN Refugee Agency.

Even the Russian-Canadian Co-Founder of Ethereum Vitalik Buterin strongly condemns the Russian move over invading Ukraine. Buterin was born in Russia and immigrated to Canada in 2000. Through his Twitter handle, he called out to Putin to ‘choose wisely’ when making decisions over Ukraine. He also wrote, ‘An attack on Ukraine can only harm Russia, Ukraine, and humanity.” Vitalik also wrote that he is ‘very upset’ with Putin’s decision to go for war against Ukraine. He wishes security and safety to the people of Ukraine.

Crypto Donations exceeded to $30M for Ukraine

Meanwhile, many volunteer groups and NGOs have raised millions as per the latest report by Elliptic showing donation value exceeding more than $30M. Very recently, Ukraine has legalized cryptocurrency and other digital assets as the country urges people to donate to cryptocurrencies through their official Twitter account.

“Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT”

Twitter post The Ukrainian Government

However, the popular NGO Come Back Alive’s fundraising platform has been suspended by the US-based organization Patreon, which allows groups to raise money. The NGO Come Back Alive supports Ukrainian soldiers and other military expenses.

According toΒ an Elliptic report, the Ukrainian government and NGOs have received 54.8% of the donations in Bitcoin, whereas Ethereum stands second with 33.4%. The other coins and stable coins stood 10.8% and 1% respectively. Further, an Ethereum-based project called Help Ukraine have been started with token $(HUKR) on Thursday. As per the reports, the project is donating Ethereum to a fundraiser called “Support Ukrainian Sovereignty”. The support organization has pledged to donate funds for humanitarian causes in Ukraine. Till now Support of Ukrainian Sovereignty has raised $281,769.

Source: Elliptic Report

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