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Sunday, June 4, 2023

Crypto Exchanges Binance and Whitebit Offer Help for Ukrainian Refugees

Crypto Exchanges Binance and Whitebit Offer Help for Ukrainian Refugees – Following a conversation with Binance’s CEO Changpeng Zhao, Ukraine’s Minister of Digital Transformation Mykhailo Fedorov revealed on Telegram that the world’s leading cryptocurrency exchange will launch a charity crypto card this month for those that have been forced to leave Ukraine and require support.

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According to Forklog, a crypto news outlet, a government official said, “This is essential support for our people amid the struggle.” He said the exchange is continuing to cooperate with his department on bitcoin adoption and wants to sponsor educational programs in the digital space to enable more Ukrainians gain digital skills and new professional credentials.

Also Read: Ukraine Pushes for Membership in European Blockchain Partnership

Fedorov, who is also the deputy prime minister of Kyiv, stated that the corporation has already given $10 million to Ukraine and plans to expand the sum to $20 million soon. Binance Charity gathers cryptocurrency donations to help the humanitarian work of local non-governmental and big intergovernmental groups.

Meanwhile, Whitebit, a Ukrainian cryptocurrency exchange, has signed a memorandum of understanding with Ukraine’s Ministry of Foreign Affairs. The corporation recently stated that its representative offices in other countries, as well as its technical as well as other resources, can assist individuals who have fled Ukraine to avoid the ongoing conflicts.

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It was recently noted in a blog post:

“We will continue to cooperate with the government, develop partnerships, and provide assistance to Ukraine. By expanding our operations in other countries, we are able to expand social projects that are critical to the preservation of democracy and European ideals.”

Also: EU Bans High-Value Crypto Services to Russia in New Round of Sanctions

Whitebit plans to help Ukraine’s Consular Service in the countries where it has offices by assisting “the transformation of foreign diplomatic entities to barrier-free digital environments.” It also stated that it would assist the Foreign Ministry’s Anti-Crisis Line and a phone center that assists Ukrainians in need.

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