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Crypto companies donate for Coronavirus Victims

Crypto companies donate for Coronavirus Victims
By We Play Coins
Added on Jan 26, 2020

Crypto companies donate for coronavirus victims according to cointelegraph. Crypto currency companies like Binance, Krypital have made provisions to donate in fiat currency. They have also been planning better processes to improve the spread of relief. All are invited to donate any cryptocurrencies to the companies. They will convert it into fiat currency and donate it to the victims fund.

Some blockchain and cryptocurrency firms have pledged to help victims of the coronavirus in Wuhan, China. Cryptocurrency exchange Binance pledged to donate 10 million Chinese yuan ($1.44 million) to the effort.

In a tweet on Jan. 25, Binance CEO Changpeng Zhao said that Binance made the pledge but did not make any announcements after a Twitter user tagged him in a news article about cryptocurrency donations being accepted for the cause:

“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 [Binance Charity Foundation] BCF/Binance team has been busy for the last few days. Still need help to arrange logistics locally.”

According to a Jan. 25 WeChat post by blockchain marketing service firm Krypital, the firm also launched a charity donation effort to acquire medical supplies for Wuhan coronavirus victims.

Krypital also announced that it will create a blockchain-based donation system that allows for greater transparency and efficiency. The firm accepts Tether (USDT) on the Ethereum blockchain.

The company is also recruiting volunteers for group administration, material purchase, sorting and transportation management, media announcements and graphic designers.

As Cointelegraph reported, yesterday Bitcoin (BTC) slumped 6% on the Chinese New Year as uncertainty surrounding the spread of the coronavirus. On Jan. 26, Fox News reported that the current death toll of the virus is 56. Coronavirus has become a potential global health catastrophe with major implications. Crypto companies donate for Coronavirus Victims in a report by cointelegraph.

From the local Media

On this New Year’s Eve, which was supposed to be a national celebration, we ushered in one bad news after another-the number of deaths caused by the new coronavirus is increasing day by day; countless medical teams are going to Wuhan to support them. The raging and lack of medical materials make this supposedly beautiful city suddenly become a “city of fear” in people’s hearts. People all over the world are affected by these earth-shattering news and sleepless all night. In order to help the people of Wuhan to get out of the haze more quickly and overcome the disease, Krypital Group has joined the industry and institutions to launch a charity donation of “Wuhan and surrounding cities medical supplies donation”! In this event, as the initiator of this charity event, we will gather the strength of the blockchain industry as much as possible to raise funds for Wuhan and purchase scarce medical supplies. At the same time, we will also take advantage of our industry, the blockchain technology industry, to create a donation system based on the blockchain wallet to ensure that each transaction process is transparent, the task is responsible and efficient.