Cryptocurrency, the most traded cryptocurrency exchange, announced that it will take a series of humanitarian aid actions to support Ukrainians. The exchange said it will donate at least $10 million to help the people of Ukraine through the Coinan Charitable Foundation. Cryptocurrency also announced it will launch a cryptocurrency-first crowdfunding site to coordinate donations to Ukrainian causes.
Coin provides humanitarian donations to Ukrainians
Cryptocurrency, one of the leading exchanges in the cryptocurrency space, has announced its intention to help the people of Ukraine in light of the ongoing conflict. The exchange has announced that it will donate at least $10 million to support humanitarian efforts to improve the situation of Ukrainian citizens in the conflict. The donation will be made by the Cryptocurrency Charity Foundation and will be distributed to non-profit and government organizations in the country.
Among these organizations is UNICEF, which has a long history of working with exchanges for humanitarian causes. Other organizations that will manage a portion of the funds include UNHCR, UNHCHR, Isans and People in Need, which will center their efforts on supporting displaced children and their families.
"Humanity First – Ukraine Emergency Relief Fund"
In an effort to coordinate assistance from third parties who also want to contribute, Coin has launched a crowdfunding program called "Humanity First – Ukraine Emergency Relief Fund" where anyone can contribute a portion of their cryptocurrency funds to the program. According to the exchange, the funds will be used "to help provide emergency relief to refugees and children and to support local logistics, such as providing food, fuel and supplies to refugees."
Coin has donated 16,042 BNB to the fund, the equivalent of $6 million at the time of the donation. Other donors have also contributed to the fund. At the time of writing, more than 370 transactions have been made to addresses associated with the fund, bringing the total amount donated to 148.25 BTC, worth approximately $6,443,051.
Cryptocurrency is not the only actor coordinating donations related to the conflict in Ukraine. The Ukrainian government began asking for cryptocurrency donations directly through addresses it posts on social media on Saturday, accepting bitcoin, ethereum and USDT. The cryptocurrency community has already donated more than $10.6 million in 13,670 transactions against the aforementioned addresses.
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