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Binance donates $ 1 million and wants to raise another $ 4 million to help fight the coronavirus


(Photo: Shutterstock)

Binance Charity officially launched on Wednesday (25) a campaign to raise the equivalent of $ 5 million in cryptocurrencies – including bitcoin – to be donated for actions to combat the coronavirus.

Binance's charitable arm, considered the largest cryptocurrency broker in the world, the entity conducts the Crypto Against COVID project, which has already supported actions to combat the virus in China.

Of this amount, US $ 1 million has already been donated initially by Binance itself. The company pledges to donate up to $ 2 million through the #CryptoAgainstCOVID campaign on social media.

In the first US $ 1 million raised by the “little cow”, the brokerage firm promises to match the amount and donate another US $ 1 million.

In addition to the donation already announced by the exchange, the campaign page currently counts another ten donations, in Bitcoin (BTC), Binance USD (BUSD), Binance Coin (BNB) and Ripple (XRP).

Resource allocation

The proceeds will be used to purchase medical supplies for the countries most affected by the pandemic – such as Italy, Iran, Turkey, Spain, the United States and the United Kingdom.

“The most important element of human life is to show compassion and help others as we can, without limiting or restricting borders. Blockchain technology allows for this in greater capacities than ever and Binance Charity wants to take this to the masses, ”said Helen Hai, head of Binance Charity, to the exchange blog.

“The crypto community is a growing force and we have an opportunity to strengthen this through philanthropy. We encourage the community to participate in this initiative to unite against COVID-19 and, together, make an impact, ”said CZ (Changpeng Zhao), founder and CEO of Binance, in a press release.

The pandemic has already infected around 300,000 people worldwide, according to the World Health Organization (WHO). Fatal victims exceed 16 thousand.

Other campaigns

In addition to this action, Binance launched other charity campaigns in response to recent tragic events.

One of them, also combating the coronavirus, focused efforts on the Chinese city of Wuhan – where the spread of the virus began in November 2019. Through the action “Binance for Wuhan”, the equivalent of US $ 1.4 was raised million, used to purchase medical supplies.

In another action, last January, the broker donated the equivalent of $ 1 million in Binance Coin (BNB) to combat burning in Australia.

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