Binance Donated $ 1 Million in Crypto to Help the Australian Bush Fire

Binance donated $ 1 million in crypto to help the Australian Bush Fire

The cryptocurrency community has once again demonstrated its commitment to supporting charity goals throughout the world. Binance, the most active international digital asset exchange, has contributed $ 1 million to assist Australia's fire relief efforts and invited the public to join the initiative. The recent forest fires season is considered the worst in living memories, causing billions of damage.

Binance Supports Australian Bush Fire Assistance

The philanthropic arm of the Binance cryptocurrency exchange has announced the start of a charity project aimed at helping the Australian forest fire relief effort. The company is committed to donating $ 1 million in BNB alone to the Australian Bushfire Donations project as an initial impetus. All funds collected will be used to help reduce the impact of this disaster and facilitate recovery thereafter.

"It is very sad to see forest fires throughout Australia and their devastating effects on ecology and local communities." Contributing to Australia The Bushfires charity program is the most direct and effective approach to making an impact, and we also ask the entire crypto community to join us in supporting Australia. "said Changpeng Zhao, CEO of Binance.

The 2019-2020 fire season is considered the worst in living memory, causing tens of billions of damage and killing 28 people on January 8. According to the latest media reports from Australia, recent fires have burned more than 100,000 square kilometers of land, destroying thousands of homes and causing the loss of about half a billion animals. On January 5, the Australian prime minister announced the formation of the National Bushfire Recovery Agency, which was initially funded with 2 billion Australian dollars.

Adoption of Crypto for Charity

The Binance Charity Foundation was launched by Changpeng Zhao's company CEO in October 2018. The blockchain-based platform ensures that all contributions and allocations for each project are recorded and open to the public. The charity reported reporting helping more than 100,000 people in previous projects, with efforts such as providing lunch to more than 5,000 students in 11 schools, stationery supplies and solar panels for 51 schools and sanitary napkin for more than 10,000 young girls in 55 school.

"We feel for people who have suffered losses in this natural disaster and we really want to do our part to help. That was also the initial intention we had when we created this platform that uses technology to empower people and help those in need that's most important, "We will reach out to as many organizations and local communities as possible to continue the donations we receive crypto into the hands of each recipient. Please recommend to bcf@binance.com if you know that someone has received crypto, or want us to appreciate your support in all forms, "said Helen Hai, Head of the Binance Charity Foundation.

Binance is considered a leading global cryptocurrency exchange based on trade volume, with users from more than 180 countries and regions. In October 2019, the company added bitcoin cash to Binance DEX, a decentralized exchange, and in December the company launched a bitcoin cash futures contract (BCH / USDT) with up to 75x leverage on the Binance Futures trading platform, giving BCH users additional options to use popular assets and encourage peer to peer electronic cash adoption throughout the world.