Binance cryptocurrency exchange has donated 10 million yuan ($1.44 million) to China through its charity arm, the Binance Charity Foundation (BCF), to aid the fight against the deadly Coronavirus that has claimed many lives in the nation, reports AsiaTimes on January 27, 2020.
Binance Wages War against Coronavirus
Since its outbreak in late 2019, the Wuhan Coronavirus has reportedly infected almost 3,000 people in China and has killed more than 80 people so far, with a few reported cases in various parts of the world, including France, South Korea and Australia.
In the latest development, the world’s leading cryptocurrency exchange has announced that it plans to donate the sum of 10 million Chinese yuan (about $1.44 million) to the country to help the government fight against the epidemic.
Changpeng Zhao (CZ), the eccentric CEO of Binance took to Twitter on January 25, 2020, to state that the donation will be done in fiat currency, due to China’s lack of support for cryptos.
“For #Wuhan, not realistic to do crypto to end beneficiaries,” tweeted CZ, adding “Binance pledged 10m RMB ($1.5M) to help #coronavirus victims. We didn’t make any announcements. But the BCG/Binance team has been busy for the last few days. Still need help to arrange the logistics locally.”
Bitcoin Firms making the World a Better Place
Sadly, CZ has also hinted that Binance has bought over 8,000 medical masks for the victims of coronavirus but it’s still finding it difficult to dispatch the items to the region, due to logistics bottlenecks caused by the outbreak. CZ declared:
“All N95 masks in China, Japan, and surrounding regions have been sold out. We’ve bought over 8,000 masks but we are having difficulties sending them to Wuhan. If you know of logistics channels that still work, please notify us.“
In the same vein, Kryptical, a blockchain-based marketing platform has also launched a relief program aimed at raising funds that will be used for the purchase of medical supplies for coronavirus victims.
Kryptical says it’s also in search of volunteers that will handle several processes related to its coronavirus relief program, including transportation management, material purchases, sorting and more.
In related news, earlier in January 2020, BTCManager informed that Binance Charity Foundation has pledged to donate $1 million in Binance coin (BNB) to Australia for the rehabilitation of bushfire victims.