The situation in Ukraine is deteriorating on a daily basis. To help the beleaguered nation, the entire cryptocurrency community has banded with each other. Binance has also formed an emergency fund, contributing $10 million to Ukraine. Their objective would be to give ground support to those trapped in the conflict zone.
“We only care about the people,” Binance’s CEO Changpeng Zhao said in a tweet about it yesterday. If you want to give to the cause, that’s great, but make sure you double-check the address where you send your cryptocurrency, according to the tweet.
The Crypto Community With Ukraine
Binance contributed $10 million to significant organisations and NGOs in the nation for the benefit of residents. The cryptocurrency community is standing firmly with Ukraine by providing food, medical supplies and the monies, essential items in a grave humanitarian crisis, to it. Binance’s emergency fund, in addition to its contributions, has already raised $6 million. It’s not just Binance; other cryptocurrency exchanges have also stepped up to make a difference in their own distinctive manner.
Sam Bankman Fried, the creator of FTX, claimed that he will contribute $25 to each Ukrainian participant on the platform. While many people on Twitter chastised him for it, it was still a good thing to do. Sam’s action will certainly get appreciated by people in Ukraine.
Deepak Thapliyal, the CEO of Chain.com, has also given 100 Ethereum to the cause. Deepak explained that the government had sought crypto contributions, so he fulfilled his obligation. Crypto contributions will be of enormous assistance to Ukrainian residents because they are borderless and virtually instantaneous.
Ukraine’s Always Game For Cryptocurrency
The country is among the few that render trading and exchanging cryptocurrencies very simple for individuals. They encourage technological advancements in the field and have put in place decisions that protect the crypto movement. Even the government emphasizes the power and promise of cryptocurrency. This is why, to avoid middlemen, they tweeted from the official account bitcoin donations. However, those wanting to contribute to the cause must double-check the address while transferring cryptocurrency.
