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Binance steps up efforts to fight Coronavirus


The fight against the Coronavirus is a matter that concerns us all, including members of the crypto community. Whether it’s small actions like staying home, or much larger actions like millionaire donations, all help counts. Right now, probably nobody is doing more to fight the Coronavirus from the crypto world than Binance. The largest exchange in the world redoubles its efforts, as commented by Changpeng Zhao in our Tweet of today.

Binance committed to fighting Coronavirus

A few days ago, we reviewed here in CryptoTrend the news that Binance, one of the most important exchanges in the world, had joined the fight against the Coronavirus. For which, he was trying to raise 5 million dollars in cryptocurrencies, to donate them to the countries most affected by COVID-19.

Initially, Binance had donated $ 1 million for this project, committing the resources of its platform. His plan is that this donation incentivize other donors who could place the other 4 million with which this aid fund would start. However, with the passing of days, and with the worsening of the Coronavirus crisis, it seems that Binance has decided that $ 1 million is not enough.

Therefore, Binance would now commit to donating an additional million dollars, following a 2: 1 pattern with respect to donations made by other members of the crypto community. Thus, for every $ 10 donated to Binance Charity, Binance would place $ 20 to reach the goal of $ 2 million, as commented by Binance CEO Changpeng Zhao through his Twitter account:

We will be donating an extra $ 1 million, and we have doubled our donation match to 2: 1 to reach $ 2 million

With this decision, Binance would be accelerating the rate of its contribution to the fight against the Coronavirus. In an attempt to raise the $ 5 million in crypto as soon as possible to collaborate with countries that need it most. Showing the possibilities of crypto companies to, in the midst of the pandemic that plagues humanity, collaborate with those who need it most.

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