Binance Charity Launches $5 Million Worth ‘Crypto Against COVID’ Global Donation Campaign
Serving the community as a highly reputed blockchain-enabled non-for-profit philanthropy platform, Binance Charity has announced the launch of a new fundraising project named “Crypto Against COVID” to aid the relief operations against the pandemic carried by government authorities globally. The noble initiative has been designed to raise a significant amount of $5 Million in cryptocurrencies such as BNB, BTC, XRP, and BUSD.
According to the reports, the funds pooled in shall be used to purchase medical supplies for the countries that are most severely affected by the virus outbreak including Italy, Germany, Spain, the Republic of Korea, Iran, Turkey, U.S, and the U.K. Binance has been an active participant in this war against COVID-19 ever since the situations got worsened in different parts of the world. While maintaining full transparency by displaying donations on the blockchain, Binance Charity sets out an example in the crypto domain.
The exchange network will lead the noble initiative by making an initial donation of $1 Million along with a commitment of donating $2 Million through the #CryptoAgainstCOVID social media campaign. Every time a person will retweet #CryptoAgainstCOVID, a donation of $1 shall be accounted. If the initiative achieves the target of 1 million retweets within seven days, then Binance Charity will make a donation of an extra $1,000,000 towards the global relief cause.
Apart from the above-mentioned donations, Binance Charity has announced that it shall match $1 Million of public donations collected.
In January 2020, Binance organized the “Binance for Wuhan” campaign and committed to donate $10,000,000 RMB worth of medical supplies to the Chinese province to trigger the relief operations carried upon by the authorities against the Coronavirus attack.
Helen Hai, Head of Binance Charity stated,
The team of Binance Charity has been at the forefront in supplying necessary medical tools to the affected regions. As of March 2020, the organization has donated 366,000 pairs of gloves, nine sterilizers, 173 barrels of disinfectant, 5,280 bottles of hand sanitizers, 20,000 testing kits, 7,850 protective suits, 20,000 pairs of goggles, 388 oxygen concentrators, and 1000 germicidal lamps to more than 300 hospitals and medical teams in Hubei, Sichuan, Guangxi and Shanghai.
Changpeng Zhao, founder and CEO of Binance quoted,