30 March 2020
Binance Charity is going to donate five million dollars to help the countries fight against the COVID-19 epidemic.
According to the latest report, Binance, the leading cryptocurrency exchange has started the campaign, Binance Charity counter the deadly coronavirus. Initially, Binance will begin donating $1 million to countries like Spain, Italy, Germany and other states that are affected with COVID-19.
Binance platform- ‘Binance Charity’ which is a blockchain-based platform for donation collection to tackle coronavirus was launched on 25th March. The platform aims to collect donations worth $5million in cryptocurrencies that include Bitcoin, Binance USD, XRP, and Binance Coin.
As per the announcement by Binance CEO, Changpeng Zhao on Twitter, Binance will lead the campaign by initially donating $1 million and then add more $2 million through #CryptoAgainstCOVID campaign on social media platforms.
Once the funds are collected it will be used for buying medical items for the countries that are severely affected by coronaviruses such as Italy, Iran, Spain, Germany, U.S., Turkey, and the U.K.
However, Binance will remain the second charity who is helping countries suffering from coronavirus, while Huobi Global will be the first cryptocurrency company in initiating the Charity program.