Binance is in the news again, and this time, it’s saving people’s lives.
Binance is a cryptocurrency exchange platform that has been in the news quite often of late. However, these recent headlines haven’t been very much desirable to the company and its investors at large.
There have been reports of a hack and possible loss of money, and then there have been an unplanned system maintenance that didn’t go down well with Binance users as it was speculated to be as a result of the hack.
This time around, Binance is hitting the headlines for a very good reason that’s touching people’s hearts. It’s a show of humanity in the crypto community as well as Binance’s own effort in supporting what’s best for the world.
Binance Is Making Good News
Founded by ChangPeng Zhao, Binance is one of the largest and most popular crypto exchanges in the world. This time around, Binance wants to give back to the community by helping the victims of a flood that hit West Japan after heavy rains on July 7.
The landslides and floods resulting from the heavy rain claimed 60 lives within 2 days, with over a dozen more still missing. After the incident, the Japanese Prime Minister, Shinzo Abe, ordered an immediate evacuation of over 2 million people from the disaster-struck region.
$1 Million For The Victims
Following the sad incident, Binance has moved to donate $1 million to help the victims. This was announced in a blog posted by Binance on Sunday. The crypto exchange has also called upon crypto friends and partners to contribute towards this noble cause. Those using Binance can make their contributions in either ERC-20 or ETH tokens.
Zhao went ahead to post a tweet giving some more information about Binance’s humanitarian effort, further urging everyone in the cryptoworld to make their contributions to help the affected people. To support the contribution call, Binance created a special Ethereum wallet to receive the donations. As at now, ETH tokens worth about $90,000 and ERC-20 tokens worth $1.05 million have been received into the wallet.
It is to be remembered that this isn’t the only time the crypto community has come together in support of a common cause. Just recently, Ripple made a donation of $29 million worth of XRP tokens to DonorsChoice in an effort to shore up the education system.