Binance Charity donates $3 million to Spanish Red Cross for Valencia flood relief

In response to devastating floods in Valencia, Binance Charity has pledged $3 million to the Spanish Red Cross (Cruz Roja Española) to support urgent relief efforts. The crypto exchange is planning on extending support to the affected communities and offering them quick assistance to deal with the adverse effects of the severe weather that battered the area.

The donation, revealed on Tuesday, will allow the Spanish Red Cross to bring the needed aid to the victims of the recent disaster. Valencia and other regions have been hit by extreme downpours and flash floods that have caused major damage to property and displacement of many people.

#Binance is making a $3M donation to the Spanish Red Cross to support relief efforts following the devastating floods that hit the Valencia region in Spain.

Our thoughts and prayers go out to all those affected.

Read more 👇https://t.co/ZzRPfYFGbf pic.twitter.com/TTyxp6bL6d

— Binance (@binance) November 5, 2024

Fernando Pérez-Ordoyo, the Head of International Partnerships at the Spanish Red Cross, thanked Binance Charity for the support. “Thanks to their generosity and commitment, we can provide immediate assistance to the thousands of affected individuals, supplying vital resources in this very difficult time,” he stated.

Besides the current donation, Binance has been noted to have participated in donations towards international disaster relief. Binance recently gave away $1.5 million in BNB tokens to people in Central Europe who were hit by floods last month.

Global crypto community rallies for humanitarian support

Binance’s contribution to the Spanish Red Cross is not an isolated incident, as more and more companies in the cryptocurrency space are contributing to disaster relief efforts. In previous crises, the crypto community has repeatedly provided massive support in various ways. In 2022, the exchange donated $10 million to the Ukrainian humanitarian initiatives to help the country after the war with Russia.

Other leading crypto firms have also used digital currencies for philanthropic causes similarly. Last year quite a significant amount of money was collected through cryptocurrencies in response to the earthquakes that happened in Turkey, and many millions of dollars were transferred to aid and rebuild the affected regions.

The latest storms have affected the eastern coast of Spain, especially the Valencia province. It has affected homes, roads, and important structures, including bridges and roads. Unfortunately, the disaster has affected 217 people dead, with more people still missing, with search operations ongoing even in underground parking lots. 

Spain has also deployed 2,500 more soldiers, which means there are now 7,800 military personnel, 9,500 National Guard, and police officers on the island to help in the search for survivors.

The flooding extended up to Barcelona and more chaos was experienced on Monday. Barcelona’s El Prat Airport, the second largest in Spain, was affected by the flood, and many flights were canceled or delayed. Trains also stopped operating as transport systems were barely able to deal with the weather conditions.