Binance Charity Foundation is seeking crypto donations.
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Binance Charity Foundation recently launched an initiative called Crypto Against COVID, which aims to raise money from the broader digital currency and blockchain community in order to combat the coronavirus pandemic.
The foundation, a nonprofit that also goes by Binance Charity, seeks to raise $4 million, which will go primarily toward purchasing medical supplies for countries impacted by the virus, including Italy, Germany and the U.S.
To meet this goal, Binance Charity Foundation is requesting $1 million from the crypto community.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
The foundation has already contributed $1 million to get things started, and plans to match all donations until the $4 million goal is reached.
In the spirit of transparency, all transactions will be recorded on the blockchain (before being converted to fiat) and displayed on the Binance Charity website.
All donations, which can be made using bitcoin, binance coin and binance USD, will be used for charity.
Interested parties can donate by following the instructions on the Binance Charity website.
Thus far, more than 100,000 people have benefited from the philanthropic activities of Binance Charity Foundation, according to figures provided by its website.
The organization has contributed to several causes, helping feed starving children in Africa and initiating the Australian Bushfire Donation project.
It has been making efforts to fight the coronavirus over the last few months, donating gloves, masks and testing kits to more than 100 hospitals after the original outbreak in Wuhan, China.
Going forward, the organization aims to unite the crypto community in order to pursue socially beneficial objectives, said Jarred Winn, senior vice president of charity for Binance.
In the long term, he hopes this approach will help emphasize the capacity that crypto has for benevolence.
Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.
