The Binance exchange has launched a charity initiative to raise funds for the purchase of medical suppliesappointments and equipment to combat the coronovirus pandemic.
Leading crypto exchange launched Binance Charity– blockchain platform for collecting donations to fight coronavirus. The company plans to raise $5 million in cryptocurrencies including Binance Coin, Bitcoin, Binance USD and XRP.
Binance will spearhead this initiative, initially allocating $ 1 million. The Crypto vs. COVID project will raise another $ 5 million in donations.
The funds raised will go to purchase medical supplies for the countries most affected by coronavirus, including Italy, Iran, Spain, Germany, the USA, Turkey and the UK.
This is not the first charitable initiative.Binance aimed at combating COVID-19. The Binance for Wuhan project promised to donate medicines worth 10,000,000 yuan (~ $ 1.4 million) to support the fight against the virus in China.
Binance– not the only exchange investing in charity. Huobi Global recently established Huobi Charity to help the world fight the coronavirus.
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