Nick Chong · 1 week ago · 2 min read · Insights via Grayscale Investments
Binance announced that it is looking to raise $5 million worth of cryptocurrencies to help the most affected countries tackle the ongoing global pandemic.
Crypto against COVID
As of today, the number of confirmed COVID-19 cases worldwide is nearing 400,000, according to the World Health Organization (WHO). The virus has spread throughout 195 countries, areas and territories, and more than 16,000 people have died as a result of the pandemic.
Among the worst affected countries rank China with over 80,000 confirmed cases, Italy with nearly 64,000 cases, the U.S. with 42,000 cases, and Spain with 33,000.
The rapid widespread transmission of coronavirus motivated Binance Charity, the blockchain-powered donation platform of the world’s largest cryptocurrency exchange by trading volume Binance, to create a new fundraising project that is directed to help the countries worst affected by the virus.
Jarred Winn, Senior Vice President of Charity at Binance, said:
“The crypto community is a growing force and we have an opportunity to strengthen this through philanthropy. We encourage the community to take part in this initiative as we unite against COVID-19, and together, we’ll drive impact.”
Binance will be leading the “Crypto Against COVID” initiative by donating an initial amount of $1 million worth of Binance USD (BUSD). Additionally, the crypto exchange giant also committed to donating up to $2 million through the #CryptoAgainstCOVID social media campaign and will match $1 million of public donations received.