Binance’s CZ to donate $1.5 million to the victims of the Coronavirus

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Updated on Mar 11, 2020

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Binance's CEO, Changpeng Zhao, recently announced that he will make yet another major donation.
Zhao has dedicated $1.5 million to the victims of Coronavirus, which is spreading throughout China and Hong Kong.
Binance also recently donated $1 million to the victims of Australian bushfires, and now, with over 2,300 registered cases of the virus, Zhao hopes to help as much as possible with monetary support.

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As the news of the Coronavirus outbreak continues to make headlines, many have decided to react and help in any way they can. Among them is Changpeng Zhao (CZ). the CEO of one of the world’s largest exchanges — Binance. CZ posted a Twitter announcement last Saturday, stating that he plans to donate $1.5 million to the victims of the new virus.

For #Wuhan, not realistic to do crypto to end beneficiaries.

Binance pledged 10m RMB ($1.5m USD) to help #coronavirus victims.

We didn’t make any announcements. But BCF/Binance team has been busy for the last few days.

Still need help to arrange logistics locally.????‍♀️ https://t.co/UH6FXgVSrX
— CZ ???? BNB (@cz_binance) January 25, 2020

Binance also recently reacted to help soften the blow of another major disaster — Australian bushfires. The exchange donated $1 million to those affected by the unceasing fires just a few weeks ago.

With another catastrophe troubling the world, the exchange and its CEO are once again trying to help with much-needed donations.

Coronavirus spreads throughout China and Hong Kong

As many likely know, the so-called Coronavirus recently emerged in China and Hong Kong, disrupting the lives of their citizens, and infecting thousands of people along the way. The governments have already declared the highest level of emergency, and there were around 2700 registered cases until now.

According to Zhao, crypto would not serve its purpose to end-beneficiaries in this case, and they would require help regarding the logistics-related arrangements. However, he did thank and congratulate his team for their efforts to make sure that the money would reach those who need it the most as soon as possible.

Another thing to note is that the world’s first non-profit blockchain-powered charity organization, BitGive Foundation, recently announced that Bitcoin is the most charity-friendly crypto. The coin is very useful for its ability to serve private and remote transactions and to make them extremely affordable, as well as fast. Thanks to BTC, very cheap settlements are now possible in real-time, which is of great help to those who depend on quick donations.