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Binance Makes A $2.5 Million Cryptocurrency Donation To Help Ukrainian Children

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  • Crypto is, in fact, too small for Russia. If we look at the current state of crypto acceptance, we may estimate that roughly 3% of the worldwide population has some form of crypto exposure (owning some crypto).
  • Most of them have only a little portion of their net worth in cryptocurrency. On average, it’s less than 10%. As a result, crypto accounts for less than 0.3 percent of global net worth today. This proportion is applicable to both Russia and the United States.
  • The Russia-Ukraine conflict has had such a large impact on the cryptocurrency sector that it has been dubbed the world’s first crypto war.

As a show of support for the children of Ukraine during these difficult times, Binance Charity contributed $2.5 million in cryptocurrency to UNICEF. Binance has just given to aid Ukrainian children in their country’s continuing war with Russia, joining a growing number of people in the crypto ecosystem who are donating money and standing up for the country’s cause. Binance Charity, the company’s non-profit philanthropic arm, has donated $2.5 million in cryptocurrencies to UNICEF. The purpose is to help fund the costs of the organization, which helps Ukrainian children and families devastated by the war.

Binance As Well As UNICEF Team Up To Aid The Children In Ukraine

Inside a public announcement, UNICEF praised Binance for its gift, adding that now the funds arrived at the right time since the escalation of the military confrontation is having a tremendous impact on the people. Russian soldiers’ advances and attacks on different infrastructure points have had an impact on the lives of residents living in Ukraine’s northern regions. Requirements for locals to join the army and restrictions on regional working capital by the Ukrainian president have accomplished little to improve things for contested area residents.

UNICEF’s efforts are focused on providing children with water, education, and protection; promoting health and hygiene assistance to communities; collaborating with Ukraine’s regional governments to strengthen community support programs, and assisting mobile teams providing child protection services. Binance CEO Chanpeng Zhao expressed his commitment to continue providing financial support to charitable efforts in collaboration with UNICEF: They’re grateful for our continued partnership with UNICEF, which, thanks to the assistance of the Binance community, is able to give emergency relief to these children and their families.

The Very First Crypto War In The History Of Mankind

The Russia-Ukraine conflict has had such a large impact on the cryptocurrency sector that it has been dubbed the world’s first crypto war. In an attempt to boost its war budget, the Ukrainian government has begun taking Bitcoin, Ethereum, and stablecoin donations. Ukraine’s wallets quickly expanded to accept additional cryptocurrencies like Polkadot and Dogecoin, amassing several million dollars in money. Ukraine has already spent $15 million of the funds on military weapons. There is no information on the amount of money spent on humanitarian efforts.

On the other hand, much has been theorized regarding Russia’s use of cryptocurrencies as a means of circumventing sanctions imposed by the United States and its allies.

However, no official statement has been made on the subject, and CZ has stated that using cryptocurrency to keep Russia’s economy afloat would be nearly impossible:  Crypto is, in fact, too small for Russia. If we look at the current state of crypto acceptance, we may estimate that roughly 3% of the worldwide population has some form of crypto exposure( owning some crypto). Most of them have only a little portion of their net worth in cryptocurrency. On average, it’s less than 10%. As a result, crypto accounts for less than 0.3 percent of global net worth today. This proportion is applicable to both Russia and the United States.

ALSO READ: And here goes another BitMEX Co-founder to plead guilty for US AML violations

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