Binance Charity against Coronavirus brings us a five million United States dollars worth of funding to fight against the heinous COVID-19 epidemic crippling the global economy.
Binance would now be leading the initiative with a donation of $1 million to aid Italy, Spain, Germany and other states in their fight against the coronavirus.
Binance Charity, the blockchain-powered platform for donation collection to combat coronavirus was launched today. This coronavirus relief platform aims to collect $5million in cryptocurrencies, including Binance Coin, Bitcoin, Binance USD, and XRP.
Per the announcement made by the chief executive officer of Binance Changpeng Zhao on Twitter, Binance would spearhead this effort by initially donating $1 million and then adding $2 million via #CryptoAgainstCOVID campaign on social media platforms.
#Binance Charity Initiates $5 Million USD Coronavirus Relief Campaign with Donation Matching Commitment@Binancebcf:
🔸$1.4M already donated
🔸$1M new donation
🔸Match donations up to $1M
🔸$2M social campaign
— Binance (@binance) March 25, 2020
The funds collected would then be used for buying medical supplies for all the countries that are hit the hardest by the coronavirus, including Italy, Iran, Spain, Germany, U.S., Turkey, and the U.K.
While Binance maybe throwing in a hefty amount in the charity now, Huobi Global was the first cryptocurrency company to step up and start a Huobi Charity division to help the world against Coronavirus.