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Binance donates $1.5m USD to aid coronavirus victims

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Binance donates $1.5m USD to coronavirus victims

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As the Wuhan coronavirus continues to spread, more than 2,000 people have been infected so far and the death toll has risen to 56. However, the World Health Organization recently said that it was a bit too early to declare the outbreak “a public health emergency of international concern”.

Spreading across China, reports came said that the virus spread due to infected animals being sold at a local market. Reports also indicated that the country was tackling the issue of shortage of masks and other protective materials. As a result, the across the world, philanthropic movements aiding the victims have seen an uptick.

In a recent tweet, Malta-based crypto exchange Binance’s CEO Changpeng Zhao[CZ] announced that the exchange pledged “10m RMB ($1.5m USD) to help coronavirus victims.” With this move, Binance becomes the first in the crypto space to have lent a helping hand to the victims of the deadly coronavirus.

 

Noting that Binance was now working on the logistics of the move, Zhao stated that there was no use of crypto assets in the move and that it was not realistic to do crypto to end beneficiaries [for the Wuhan outbreak].

That said, this is not first-time Binance has donated charity. Through its charity fund, Binance had donated $1 million to aid the affected during floods in west Japan, back in 2018. Binance also donated $1 Million worth of BNB to the Australia Bushfire Donations project.

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A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.
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