Binance Charity Foundation Pledges US$1.5m to Help Wuhan Virus Victims

Binance Charity Foundation Pledges US$1.5m to Help Wuhan Virus Victims

“The coronavirus transmission ability is getting stronger and infections could continue to rise”

The latest global epidemic – Wuhan Virus, may have a far-reaching consequences in the months to come, with an official announcement from China’s National Health Commission, reported by Channel News Asia (CNA) on Jan 26th. At the time of writing, more than 2,000 people from all over the world are diagnosed with the highly contagious virus with a total fatality count of 56 in People’s Republic of China (PRC).

Earlier on, World Health Organization (WHO) have also said that it was a bit too early to declare the outbreak “a public health emergency of international concern”.

Stemming from its ground zero in Wuhan City, and since spreading across nationwide, the virus spread is likely due to infected animals being sold at a local market. A report published by researchers led by Zheng-Li Shi at the Wuhan Institute for Virology is pointing the root cause of the spreading of the coronavirus dubbed nCoV-2019, is likely derived from Bats. A separate report has also indicated that the country was tackling the issue of shortage of masks and other protective materials. As a result, the across the world, philanthropic movements aiding the victims have seen an uptick. One of the most active philanthropic organisation in the blockchain space – Binance Charity Foundation (BCF) has joined the global efforts in aiding the Wuhan City with aids, making Binance the first Blockchain company to fund the aiding effort.

In a recent tweet by Changpeng Zhao (CZ), the CEO of Binance the world’s leading cryptocurrency exchange, has announced that the exchange and BCF pledged 10 Million Chinese Yuan (~US$1.5 million) to help ease the pressing problem that plagued the city.

CZ has also mentioned in his subsequent tweet that the donation will disbursed in the form of Fiat currency to end beneficiaries (for the Wuhan Virus outbreak) instead. Binance will also work with various prominent logistical partners in China to facilitate the aid of about 70,000 masks.

We expect more blockchain companies to be following CZ’s lead to assist the affected population. It is worth mentioning that Binance (and Binance Charity) have walked the talk before and recently donated US$1 million to aid the affected victims during the 2018 floods in Japan and US$1 Million worth of BNB tokens to the Australia Bushfire Donations project.