Cryptocurrency exchange Crypto.com plans to use its advertising time at the 94th Academy Awards on Sunday to air a TV spot regarding the humanitarian crisis in Ukraine.
In an announcement Wednesday, Crypto.com CEO Kris Marszalek mentioned the exchange had partnered with the International Committee of the Red Cross, or ICRC, to launch a campaign to help those suffering in torture-torn conditions. war in Ukraine. The CEO did not specify what the campaign would entail, but the platform already allows donations in crypto, fiat and non-fungible token purchases to the Red Cross Red Crescent humanitarian network. The exchange will match up to $1 million in donations through March 31.
“The humanitarian crisis caused by the conflict in Ukraine continues to escalate, and I believe it is our responsibility to support those in need,” Marszalek said. “Throughout this tragedy, the entire cryptocurrency community has come together to show the world who we are, our values, and the importance of what we are building.”
We are doubling donations to the Red Cross Red Crescent all weekend, in support of those affected by the crisis in #Ukraine .
Donate now at https://t.co/iEUh6H77qP. @ifrc @icrc pic.twitter.com/kGd9ii65Zu
— Crypto.com/donate (@cryptocom) March 25, 2022
According to the ICRC, more than 3.6 million people fled Ukraine as of March 24, which marked a month since Russian military forces invaded the country. Reports from Ukraine suggest millions face food and water shortages, lack of medical care due to scores of damaged or destroyed hospitals, and displacement after being forced to leave east of the country.
Many private companies facilitate donations of digital assets, including Bitcoin (BTC) and Ether (ETH), to help Ukrainians. In addition to the Ukrainian government accepting crypto donations directly through wallet addresses provided by the Ministry of Digital Transformation, the legislative body has partnered with FTX and Kuna exchanges and staking platform Everstake to launch a site Web of donations on March 14. Cointelegraph reported that on March 9, numerous charities, humanitarian organizations, and government wallets received approximately $108 million in crypto to help Ukraine.
Related : Every bitcoin helps: Crypto-fueled relief aid for Ukraine
In addition to its efforts for Ukraine, Crypto.com announced on Tuesday that it will be an official sponsor of the 2022 FIFA World Cup in Qatar which is set to kick off in November. The exchange has made a major marketing push over the past year, partnering with numerous sports organizations including the Australian Football League, Formula 1 and the Ultimate Fighting Championship.
