+ 7.05
+ 2.21%
+ 4.00
+ 1.18%
+ 6.32
+ 1.54%
+ 1.27
+ 0.94%
+ 1.54
+ 0.9%

Binance Raising $5M For Medical Supplies In Countries Hit Hard By Coronavirus

March 25, 2020 12:32 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Binance Raising $5M For Medical Supplies In Countries Hit Hard By Coronavirus

Binance Charity, a blockchain-powered platform for advancing philanthropic projects, has introduced Crypto Against COVID, an initiative to tackle the coronavirus pandemic.

The platform said Wednesday it will raise $5 million in cryptocurrency to be distributed to countries most affected by the coronavirus.

“The most important element of human life is to show compassion and help others as we can, without the limitation or restriction of borders. Blockchain technology enables this in greater capacities than ever before and Binance Charity wishes to bring this to the masses,” Helen Hai, head of Binance Charity, said in a statement.

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

The development comes after countries such as Italy and Spain have run short of the medical tools to combat the virus outbreak.

In January, Binance launched “Binance for Wuhan,” donating nearly $1.4 million in medical supplies.

Binance Charity said it has delivered the following to Hubei, Sichuan, Guangxi and Shanghai:

  • Gloves, goggles, suits and masks.
  • Sterilizers and disinfectants.
  • Testing kits and germicidal lamps.
  • Oxygen concentrators.

“The crypto community is a growing force and we have an opportunity to strengthen this through philanthropy. We encourage the community to take part in this initiative as we unite against COVID-19, and together, we’ll drive impact,” said Changpeng Zhao, founder and CEO at Binance.

To join or learn more about Binance’s fight against the coronavirus, visit binance.charity/crypto-against-covid.

Photo by Vidal Balielo Jr. from Pexels. 

Related Articles

Cardano, Dogecoin Spike As Bitcoin, Ethereum Lose Momentum On Elon Musk, Binance Jolts

As Bitcoin (BTC) and Ethereum (ETH) lose the spark, Cardano (ADA) and Dogecoin (DOGE) are seeing some smart gains. What Happened: BTC traded 0.62% higher at $50,150.95 at press time. The apex cryptocurrency, by market capitalization, has fallen 10.9% over a seven-day trailing period. read more

Fintech Focus For May 14, 2021

Quote To Start The Day: “The way to get started is to quit talking and begin doing.” read more

Why 'Polkadot's Wild Cousin' Kusama Is Up 33% Amid Crypto Sell-Off

Despite a massive cryptocurrency sell-off removing $500 billion from that market overnight, Kusama network’s native cryptocurrency KSM rose to an all-time high. read more

Metaverse DAO Jenny Pools $7M For Fractionalized NFTs On Unicly

Jenny DAO, the first Metaverse DAO to launch its social token on Unicly, has pooled $7 million towards shared NFT ownership. Funds raised by the DAO, including contributions from several leading VCs, will go towards establishing and managing an NFT collection on Unicly. read more