Changpeng Zhao, CEO of the Binance cryptocurrency trading platform, announced a couple of days ago that the platform he leads would donate $1 million to help flood victims in western Japan.
Binance cryptocurrency trading platform to donate $1 million to help flood victims in western Japan
CZ, as Zhao is known on social networks, made this initiative public through his Twitter profile, where he also clarified that the amount of the donation would be given to the equivalent exchange rate that is most convenient for those affected, be it bitcoin (BTC), Binance Coin (BNB) or in the Japanese fiat currency, the Yen.
In the tweet, CZ took the opportunity to call on the other cryptocurrency exchange platforms to join the initiative and “help our friends in need.”
Shortly after Zhao’s announcement, Binance posted on its website and social networks ways to join them for this charitable cause, which may be anonymous or disclosed, according to donor preference. Donations can be made in Ethereum (ETH) or any ERC20 token.
However, the public’s receptivity to this initiative has been excellent, both on social networks and in the fundraising itself. According to EtherScan.io, an Ethereum (ETH) block explorer, the donation account has so far received 47 transactions, totaling more than 197 ETH, about $100,000.
Binance raised to the occasion to help those people in need
Japan has been severely affected by the extreme rains that have been falling since last Thursday, July 5th. According to news portals, the total number of fatalities and missing persons so far is between 70 and 90 people. In the meantime, rainfall in western Japan region is expected to continue as a result of the monsoon season.
The cryptocurrency trading platform behind this project dedicated to helping the victims of the floods, Binance, is one of the exchanges of cryptos with the highest volume of transactions in the cryptocurrencies ecosystem.
Therefore, it is common to see it among the first places when studying the movements in the market of cryptos such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and so on.