Binance’s CEO responds definitively that the crypto trading platform is apolitical.
Charity First
Binance made its stance clear that the leading crypto exchange is not a political tool to censure any party but will remain committed to its cause for the people. Changpeng Zhao’s reply was in response to Mykhailo Federov’s tweet requesting crypto exchanges to block Russian users and freeze Russian and Belarusian addresses.cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/cz_binance/status/1497540264398835715&image=https%3A//abs.twimg.com/errors/logo46x38.png
Instead, Binance has committed itself to relief efforts in Ukraine for on-the-ground support through its ‘Ukraine Emergency Relief Fund’. The fund has managed to secure $6.8 million in donations at the time of writing.
Jordan Pearson, a senior editor at Motherboard tweeted that Coinbase, the leading crypto exchange platform in the US has also reiterated their position of non-intervention citing ‘economic freedom’. Coinbase believes that a unilateral and total ban would harm ordinary Russian citizens that are already enduring hardship.
Humanity First
Binance’s firm stance reflects the organization’s vision in making the world a better place. The world will not be a better place through polarization. Sanctions imposed by many countries and organizations are incapable of directly targeting the acts of aggression. There will be collateral damage. Sanctions and censures will only hurt the most vulnerable people who are already victims. https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/refugees/status/1498819999452041218&image=https%3A//abs.twimg.com/errors/logo46x38.png
Binance’s relief efforts will be primarily aimed at providing solutions for three major causes. First, to protect the welfare of 7.5 million Ukrainian children by providing medical supplies, safe drinking water, social protection and emergency educational resources. Secondly, to provide essential supplies and improve the living conditions of temporary shelters for refugees. Thirdly, to provide assistance to the Internally Displaced Persons (IDP) within Russia through the United Nations High Commissioner for Refugees (UNHCR).
Money is Weaponized
Nation states are moving in with sanctions. The main tool to implement these sanctions is through the use of money. Currencies are being weaponized to cripple Russia. This is a dangerous precedent. If it can be used against a nation state, it can be used against an individual. There is no guarantee it will be utilized for the right reasons.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
