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

March 25, 2020 12:32 pm
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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. 


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