Binance Charity is looking to raise $5 million in cryptocurrencies to donate for CryptoAgainstCOVID campaign

The world has witnessed China making remarkable progress in controlling the spread of the novel coronavirus. Therefore, on Mar. 25, the official Binance page called out its followers to share and retweet a post to help in its fight against the Coronavirus, dubbed, #CryptoAgainstCOVID. The world’s largest cryptocurrency exchange pledged to donate a dollar for every retweet aiming for a million dollars via Binance Charity.

Binance Charity fight against the COVID-19 pandemic

The rapid spread and increasing deaths from Coronavirus have set the crypto community in a helping mood with Binance leading the way.

During January, Binance committed to purchasing $1.4 million in medical supplies through its “Binance for Wuhan” project. As of March 20, the initiative had purchased 366,000 pairs of gloves, 56,800 masks, 9 sterilizers, 5,280 bottles of hand sanitizers, 20,000 testing kits, 7,850 protective suits, 20,000 pairs of goggles, 388 oxygen concentrators, 1000 germicidal lamps, and roughly five tons of disinfectant.

Binance Charity Foundation donated $1 million and pledged to match contributions of up to $4 million in its CryptoAgainstCOVID campaign. Now, the charity wing of Binance exchange is putting up a pledge to donate $1 for every retweet it gets in the tweet.

The exchange is planning to donate up to $2 million if the tweet reaches 1 million retweets in the next seven days.


Source: Binance Charity

Changpeng Zhao, the founder, and CEO of Binance stated:

“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.”

The relief fund will be distributed to purchase essentials such as medical supplies, food, and medicine to the most hard-hit areas, including Italy, China, and Spain. Besides, Tron Foundation also sent over 1 million N95 masks to Wuhan in its time of crisis.

Binance Charity’s head, Helen Hai, stated:

“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.”

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