Binance Charity Foundation is one of the leading supporters of cryptocurrency use in general society. After the coronavirus emergency hit global markets, they launched an initiative called Crypto Against COVID.
The goal of this effort was to raise $4 million from the broader blockchain and digital currency community to fight the pandemic. Binance started the fund by contributing 25% of the initial amount desired to stop COVID-19.
Money raised from the Crypto Against COVID efforts went directly to the purchase of medical supplies for countries adversely impacted by the virus. The first recipients included Italy, the United States, and Germany.
Binance also promised to match another $1 million if the greater community could contribute a similar amount.
Every Donation Came Through Bitcoin
Bitcoin is the most popular cryptocurrency, although over 2,000 tokens and coins are currently in circulation.
Anyone using digital currency was invited to make a donation to Crypto Against COVID to help those in need. Bitcoin was required to contribute, along with Binance US dollars or Binance coin, and all of the funds went directly to charities.
Binance Charity Foundation raised over $2.66 million during the first three weeks of the initiative.
Crypto Against COVID ensured the transparency of each donation by recording each transaction on the blockchain. Then the funds would get converted to a usable fiat currency that could purchase the medical supplies.
You can continue to help countries that see flares of coronavirus by contributing to the fund today. More information is available on the charity’s website.