Binance coronavirus donation: Firm pledges $2.4 million for supplies

Changpeng Zhao

Global exchange firm has joined other firms in the fight against the worldwide pandemic with its Binance coronavirus donation. The global epidemic has since its outbreak caused a pause in global operation, making governments order citizens to stay at home to curb the wide global spread of the deadly disease.

Changpeng Zhao, CEO Binance said in an ask me anything session on Friday that his firm has dedicated not lesser than $2 million in cryptocurrency to get necessary supplies to fight the pandemic. He revealed further that Binance will still make an additional $2 million donation through its philanthropic arm, Binance Charity Foundation (BCF).

Zhao said that they are going to give out masks, other medical supplies, and even ventilators at some point, estimating that the firm’s total contribution to the fight amount to around $5 million.

Conflicting reports on Binance coronavirus donation

As against Zhao’s claims about Binance coronavirus donation when he said the firm had donated about $2.4 million, BCF’s website stated that only $1 million had been expended in donation so far.

However, Zhao claimed that the supplies donated are shippings directly to the hospitals handling coronavirus cases as BCF efforts are said to be focused on China alone delivering personal protective equipment (PPE) for medical professionals to not less than 300 hospitals in China.

Now, these donations Zhao said are to be shipped to other countries like Italy, U.S., Germany, and countries the virus is biting hard, he said.

Zhao also said that Binance Charity Foundation had raised around $200,000 in cryptocurrency from the public to fight the pandemic.

Zhao’s AMA session

As the Binance CEO held an AMA session today in lieu to their CoinMarketCap takeover, he said in the session that they have no plans to interfere in the operations of CMC or turn them into traffic feed.

Zhao made the reveal about Binance coronavirus donation during the AMA session primarily to answer questions about CMC acquisition.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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