A couple of crypto and blockchain firms are now pitching in to help victims of the coronavirus in Wuhan, China. Today, the Binance news also showed that the exchange pledged to donate 10 million Chinese yuan ($1.44 million) to the effort.
A tweet on January 25 by the head of the exchange Changpeng Zhao said that Binance made the pledge but did not make any announcements after a Twitter user tagged him in a news article where they talked about cryptocurrency donations 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,” he said.
The initiative of many crypto and blockchain firms trying to help the victims has been praised by many in the crypto news world.
According to a WeChat post by the blockchain marketing service firm Krypital , the firm also launched a charity donation effort to acquire medical supplies for the coronavirus victims. Krypital also said that it will create a blockchain based donation system which allows for greater transparency and efficiency. The firm also accepts Tether (USDT) on the Ethereum blockchain.
Krypital also said that they are recruiting volunteers for group administration, as well as material purchases, sorting and transportation management. They are also hiring graphic designers and are in the media with a lot of announcements. According to analysts, many other crypto and blockchain firms will take this initiative as inspiration to commit to the coronavirus cases.
As the media reported, Bitcoin (BTC) slumped 6% on the Chinese New Year and a lot of uncertainty surrounding the spread of the virus. On January 26, Fox News said that the current death toll of the virus is 56.
Today, we can see a good influx of capital in the cryptocurrency market as Bitcoin comes closer to $8,500. The altcoin news also show new increases as Ethereum (ETH) rises to $164 and XRP is stable at $0.2239 again. The biggest gainer is Bitcoin Cash (BCH) which surged by 9% and is now trading at $336.
The total cryptocurrency market cap is at $233 billion and finally moving above the $230 billion mark.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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