It is not surprising that international support for Ukraine continues to grow after the Russian invasion.
After Russia invaded Ukraine, experts from all sectors began to worry about the worst cases. For example, cybersecurity experts started responding if a global cyber war was about to unfold. The cryptocurrency industry has not been idle either.
Binance, the world’s largest crypto exchange by volume, announced a $10 million donation to Ukraine. Also launch of an emergency fund for the affected country. On his Twitter account, the CEO CZ noted, “Our goal is to provide support on the ground. We care about people.
#binance donates $10 million to help the humanitarian crisis in Ukraine and @BinanceBCF launched Ukraine’s first emergency relief fund for crypto crowdfunding. 🇺🇦
Our goal is to provide on-the-ground support. We only care about people.
➡️ https://t.co/2vLFFbf5ac pic.twitter.com/vNSo9F3x7i
— CZ 🔶 Binance (@cz_binance) February 27, 2022
Related Reading | Help for Ukraine
Launch of Binance’s official statement on the charity fund;
In response to the Russian-Ukrainian crisis, we are giving $10 million to major intergovernmental organizations and NGOs to provide emergency aid to refugees and children and to provide logistical support to refugees, such as food, fuel and supplies.
Crypto industry to support Ukraine
The Ukraine Emergency Fund, launched by Binance, has already raised over $6 million in donations. The fund is dedicated to helping people affected by recent natural disasters and violence in Ukraine, an Eastern European country.
FTX founder Sam Bankman Fried announced that he donated $25 worth of cryptocurrency to each user in Ukraine following the Russian war crisis.
FTX (Bahamian cryptocurrency exchange) offers advanced trading options like margin and futures trading. Unfortunately, US residents cannot access it due to US laws that prevent them from operating in their own territory. However, another rival called FTX.US offers fewer crypto options than what you will find on regular FX platforms around the world.
Related Reading | Cryptocurrency prices skyrocket on possibility of Russia-Ukraine talks
Chain.com CEO Deepak Thapliyal donated 100 ETH (about $278,000) to help fund the cause.
White commenting to BuzzFeed News, said Deepak Thapliyal;
When I realized that the Ukrainian government had asked for donations in the form of crypto, I felt compelled to do my part to help. Crypto donations are borderless and near-instantaneous, so I hope the government there can tap into them as soon as possible to help those in need.
Vitalik Buterin, founder and inventor of Ethereum, expressed his support for Ukraine. He used the words “Victory for Ukraine” in a recent Twitter post.
Ukraine and donations
Ukraine is a hotbed of blockchain innovation. The country’s embrace of cryptocurrencies has made it one of the few places where you can legally trade bitcoin or other digital currencies without fear of taxes and with their low-cost exchange rates combined with an abundance of talented engineers specializing in security protocols related to this. Technology; today’s developments will be built here first.
Just days after Russia occupied Ukraine, the country’s official tweeter account called for donations via cryptocurrency.
Ukrainian Deputy Prime Minister Mykhailo Fedorov confirmed that the appeal for donations was real. He asked people to “stand with Ukraine”.
As the crisis in Ukraine continues to grow, it becomes clear that Russia has invaded to install a puppet government. Russian troops have already entered Kiev, which endangers the democratically elected government. This could result in less freedom for its citizens than ever before.
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