On 1st March in an interview with CNBC, Airbnb discussed cryptocurrency and his organization's efforts to help refugees from Ukraine while confirming that it will offer free, temporary lodging for up to 100,000 Ukrainian evacuees, joining a wrap of organizations offering support and donations following the Russian attack.

The CEO of Airbnb, Brian Chesky was asked as to whether Airbnb supports crypto since certain individuals in Ukraine are attempting to take payments in cryptocurrency following Russia's intrusion. He answered: "Airbnb is. When it's all said and done, I am by and by strong of the possibility of crypto, obviously. I believe it's a truly fascinating innovation."

He proceeded: “I went on Twitter in the beginning of the year and I asked a community on Twitter if Airbnb can launch anything in 2022, what would it be? The number one response was [to] add crypto payments, so I have a team looking into that.”

While explaining that Airbnb has nothing in regards to crypto payments to declare yet, the CEO highlighted: "We are absolutely looking into this and specific to this crisis."

Noticed that it is far-fetched that anything crypto will be carried out “that quickly,” Chesky said: “So right now we’re really focused on is providing housing for refugees. That’s what I’ve mobilized a team to do.”

The expense of the stays will be covered via Airbnb, donors to its fund asset, and hosts offering limited or free accommodation.

“We know that hosts on Airbnb and guests around the world will be eager to stand up and assist this massive effort and in the coming days, Airbnb plans to share details on how hosts on Airbnb and the broader community can support this initiative,” it said.

Binance, the world's biggest cryptocurrency exchange, is giving $10m to help humanitarian efforts. It will likewise freeze the accounts of Russian clients focused on by sanctions, after Ukraine's Vice Prime Minister, Mykhailo Fedorov, approached major cryptocurrency platforms to obstruct crypto exchanges among every single Russian client.

“We’re blocking accounts of those on the sanctions list (if they have Binance accounts) and ensuring that all sanctions are met in full,” a representative for the company told Reuters on Monday, declining to give further details.

Unknown bitcoin donors have submitted somewhere around $13.7 million to the Ukrainian war exertion, as indicated by cryptocurrency specialists, as an option in contrast to donations through customary crowdfunding and payments organizations - some of which boycott payments to groups supporting the Ukrainian military.

Joyashree Dey

CBW - External Analyst

INDIA