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Sandeep Kumar Mishra
Feb 26, 2022
by Sandeep Kumar Mishra

Changpeng Zhao Says Binance is Apolitical on the Ukraine Crisis

Changpeng Zhao Binance Ukraine

Table of contents

  1. Ukraine Crisis Leads to the Liquidation of Crypto Worth $197 Million
Changpeng Zhao, the founder of prominent crypto exchange Binance, has said that Binance is apolitical, in reference to the Ukraine crisis. In a tweet made minutes before the time of writing this article, CZ said that multiple Binance teams had been working on the ground. He also said that money wasn't an issue, instead, food, fuel, and supplies were major areas of concern.

Like the rest of the world, the Binance CEO has also been keeping a close watch on the events that have been unfolding in Ukraine. In a tweet shared yesterday, Changpeng Zhao said that they had contacted the rest of the Binance team members in Ukraine.

Ukraine Crisis Leads to the Liquidation of Crypto Worth $197 Million

The spillover from the Ukraine crisis has become even more evident in the crypto industry. According to the latest reports, almost $197 million worth of cryptocurrencies has been liquidated in the last 24 hours.

Ever since Russia's belligerent stance on Ukraine, the crypto market has gone into a tailspin, which led to Bitcoin collapsing to nearly $33,000 in the last week of January- its lowest since it hit an all-time high in November last year. The panic withdrawal has been further bolstered by the entry of Russian troops into Ukraine, which led to major price drops for almost every cryptocurrency. Bitcoin dropped to $36,370 on Tuesday after reaching a high of $44,125 a week earlier, while other prominent digital coins including Ethereum and Solana have all experienced price drops.

Ether, the cryptocurrency linked to the Ethereum blockchain, fell 10% to $2,373. Meanwhile, Dogecoin was trading at $0.11, down BY over12%, and Shiba Inu was trading at $0.000022, down nearly10%. Other coins' performance suffered as well, with values for Solana, XRP, Terra, Avalanche, Stellar, Cardano, Polygon, and Polkadot falling by 8-15%.

Despite a recovery, Bitcoin continues to trade at $38,987.13 at the time of writing.  According to Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank, bitcoin will trade between$32,000 and $43,000.

 

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Changpeng Zhao Says Binance is Apolitical on the Ukraine Crisis
Sandeep Kumar Mishra
Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.

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