Binance’s charity arm has made several cryptocurrency donations as the COVID-19 pandemic grappled the world. In response to the severe healthcare supply and resource crunch in India, Binance Charity Fund [BCF] has revealed working to contribute to the relief efforts to help the community.
The non-profit organization has so far deployed 175 oxygen connectors in Asia, which, according to the exchange’s CEO, Changpeng ‘CZ’ Zhao, should arrive in Indian hospitals within a week. The total expenditure was around $200k. His tweet regarding the same read,
“Our charity team Binance BCF have so far located 175 oxygen connectors in available stock in Asia, cost roughly $200k, and it should arrive in Indian hospitals in 7 days. Still working on 1000 more. Our prayers go out to everyone in India fighting this pandemic. Stay SAFU!”
Binance’s Previous Contribution During COVID-19 Pandemic
Binance Charity has made the world’s first crypto donation to the role of United Nations International Children’s Fund [UNICEF] in the global vaccine rollout. The platform had reportedly donated a whopping $1 million in crypto to UNICEF which is set to target the organization’s role as the key delivery partner for the COVAX Facility.
Back in June 2020, the donation platform had rolled out the campaign along with ‘Crypto Against Covid’, which offered over $4.38 million in donations to the then pandemic hotspots across the globe including countries like India, China, Italy, Japan, Spain, United States among others.
Since the start if the ‘Crypto Against Covid’ campaign on the 24th of March 2020, BCF has received a total crypto donation of 262.877 BTC, around $14.9 million at press time price. While 73.99 BTC has been allocated, 188.88 BTC was still pending as of 2nd May 2021.
TWJ had earlier reported how India witnessed support from all around the world as the pandemic fueled crisis wreaked a havoc. Justin Sun, the CEO of the blockchain company Tron, had also joined a group of many popular players such as Ethereum’s Vitalik Buterin, and former Coinbase CTO Balaji Srinivasan who united to contribute to a fund created to provide relief. This fund set up by Sandeep Nailwal, the Co-founder and Chief Operations Officer of Polygon on the 24th of April.