Unicef Receives $2.5 Million in Crypto for Ukraine From Binance Charity Foundation
Unicef Receives $2.5 Million in Crypto for Ukraine From Binance Charity Foundation
Binance Charity is donating $2.5 million worth of cryptocurrency to support the humanitarian efforts of Unicef in Ukraine. The announcement comes as the ongoing military clash with the invading Russian forces is putting more and more children at risk.
Unicef to Fund Activities in Ukraine With Donated Cryptocurrency
The Binance Charity Foundation has announced a donation of $2.5 million in cryptocurrency for the United Nations Children’s Fund (Unicef). The money will be used to finance the organization’s efforts in Ukraine amid escalating hostilities with Russia that threaten a growing number of children and their parents.
“Humanitarian needs are increasing by the hour,” Unicef said in a statement. “Many children are profoundly traumatized by the violence all around them. Hundreds of thousands of people are on the move, and family members have been separated from their loved ones,” the organization added.
Unicef noted that the crypto donation comes at a moment when the fund needs to scale up its activities in Ukraine and neighboring countries accepting refugees. The goal is to reach every child in need of protection and Ukraine has around 7.5 million children.
The organization is currently focusing on ensuring access to safe water and healthcare, including in areas close to the line of conflict. The Children’s Fund is working with local authorities to provide immediate help to families in need as well as child protection services and psychosocial care.
“We rely on the generosity and support of the global business community to help Unicef and our partners reach those children and their families whose lives and futures hang in the balance,” said Carla Hadid Mardini, Director of Unicef’s Private Fundraising and Partnerships Division in Geneva. She thanked Binance Charity for its support.
Binance, the world’s largest crypto exchange, announced last week a series of humanitarian activities and the donation of $10 million for the Ukrainian people. Binance Charity has been working with Unicef through its Luxembourg Committee.
Binance founder and CEO Changpeng Zhao commented that the rate at which the conflict in Ukraine is escalating has shocked the world. He also praised the collaboration between the Binance community and Unicef.
In 2019, Unicef launched a crypto fund, becoming the first U.N. organization to not only accept but also disperse cryptocurrency to support projects for children around the world. In 2020, it also provided crypto investment funding of startups.
Ukraine itself has been raising funds in various cryptocurrencies since Russia launched its military assault in February. Authorities in Kyiv and non-government organizations have used crypto donations to support defense efforts and address humanitarian needs.
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