The war in Ukraine continues. So does the help from various charitable organizations and individuals. WhiteBIT, the biggest European cryptocurrency exchange, couldn’t stand aside from the disaster, providing support to the country since the beginning of the Russian invasion. In almost 4 months, WhiteBIT managed to raise almost 100 mln UAH for the humanitarian needs and the needs of the military. Let’s find out the ways in which the company helps Ukraine and what is its biggest motivation to do so.
What is WhiteBIT?
We will start from afar. WhiteBIT is a crypto exchange that comes from Kharkiv, Ukraine. The company’s founder and CEO is Volodymyr Nosov. The exchange offers various opportunities to purchase cryptocurrency, including digital asset exchange, trading, staking, and different tools for effective crypto trading like margin and futures trading. The exchange is included in the Top 2 best-secured platforms for digital asset trading in the world.
WhiteBIT and the war in Ukraine
The exchange had been operating in Kharkiv, with 90% of its staff coming from the city. The outbreak of war made Nosov to take a complex decision and relocate the company from Kharkiv, which had been bombed since day 1 of the war, to another country. The forced relocation accelerated the company’s market expansion. Now, WhiteBIT is among the most popular exchange platforms in Europe and beyond. Volodymyr Nosov explained, “Us relocating the exchange to other countries does not mean we quit operating in Ukraine. Our main goal was to secure the safety of our employees and their families and provide a continuous work of the platform for the Ukrainian users. WhiteBIT carried out numerous functional updates to make the experience of our Ukrainian users as smooth as possible. It includes a simplified identity verification process, for example, or upgrading the hryvnia withdrawal limits. Besides functional improvements, the exchange and its affiliated companies initiate and get engaged in fundraising campaigns and partnerships that place the support of Ukraine in the first place”.
Volodymyr Nosov’s Kharkiv-based exchange has been at the center of attention since February 24 and continues to create a buzz with its generous support to the country at war.
WhiteBIT campaigns and partnerships
We already mentioned that WhiteBIT takes an active part in supporting its mother country. Practically, all of Volodymyr Nosov’s initiatives create a lot of talks in the crypto community and above. Here are a few examples.
In May, WhiteBIT partnered with United24, the fundraising campaign of President Volodymyr Zelensky of Ukraine. WhiteBIT’s affiliated company, Whitepay, functions as a crypto payment processing system that is responsible for processing all crypto donations. Any person, organization, or even government can make a contribution of digital assets in just a few clicks.
In June, the exchange bought the main trophy of the Eurovision winners at the fundraiser auction. $900,000 were spent on military needs. Volodymyr Nosov highlighted, “We don’t attract attention to us, but we emphasize the importance of helping Ukraine in all possible ways. And we strive to inspire others to do the same.”
WhiteBIT initiated its own fundraising campaign together with Whitepay. So far, Nosov’s crypto exchange has managed to raise $96,000. Most of the funds are sent to the needs of the affected Ukrainian citizens. The company donated a great part itself. Volodymyr Nosov stated that 44 mln UAH were contributed by his company, including him and the WhiteBIT employees. Around 53 mln UAH were raised via Whitepay. Anyone can donate on the Whitepay platform.
“I am beyond grateful to the people who risk their safety when transporting and distributing the humanitarian goods we buy for the civilians and military. Those people are true heroes, and that’s why there’s no doubt that our country will stand all these disasters and become even stronger. We, in turn, will continue to do everything possible to bring the day of our victory closer,” Volodymyr Nosov stated, “WhiteBIT is not an ordinary crypto exchange, we have a heart, and we know our effort will pay off.”