Crypto, Blockchain Firms Announce their Commitment to Support Corona Virus Victims

Cryptocurrency sector has already jumped into action for helping people affected by corona virus in Wuhan, China. One of the top cryptocurrency exchange Binance has committed to donate 10 million Chinese yuan ($1.44 million) to help the people in need.

Through a tweet, Binance CEO Changpeng Zhao stated that even though Binance has pledged, no official announcements were made as a twitterati tagged him in a media report about cryptocurrency donations being accepted for the purpose.

“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.”

As per a January 25 WeChat post by blockchain marketing provider Krypital, the company has unveiled a charity donation initiative to purchase medical supplies for victims of Wuhan coronavirus.

Krypital also stated that it will setup a blockchain based donation platform that is more efficient and transparent. The firm welcomes Tether (USDT) donations on the Ethereum blockchain.

Krypital is also signing up volunteers for group management, material procurement, classifying and transport handling, news release and graphic artist. Notably, Bitcoin (BTC) plunged 6% on the Chinese New Year as there is no clarity regarding the end to coronavirus issue. Fox News has reported that 56 have lost their life because of Corona virus as of January 26.