Binance has allocated funds to combat the epidemic of coronavirus

The largest cryptographic site, Binance, has led a charity initiative in support of victims of the Chinese coronavirus, which began to spread around the world from Wuhan.

CEO Binance, in a tweet published on January 25, said the company was ready to provide “10 million yuan ($ 1.4 million) to fight coronavirus in China.”

Changpeng Zhao noted that it is not possible to transfer crypto assets directly to victims in Wuhan. Therefore, the company will allocate funds for the purchase of medicines and personal protective equipment.

The Binance team has been working with logistics and e-commerce companies over the past few days to arrange deliveries to a closed city. The company has already placed an order for seventy thousand medical masks, as they are in short supply in the region. The issue of delivery to an infected city is still open.

Other cryptocurrencies have also begun a charity fundraiser to purchase medical supplies for the epicenter of the disease. Blockchain Krypital is creating a donation system in stablecoin Tether (USDT) and Ethereum. The company also attracts volunteers for the purchase of materials, their sorting and transportation.

According to the latest data, hospitals in Wuhan are crowded due to the large number of patients and those who believe that they are sick with coronavirus. Independent videos posted on social media suggest that there is a shortage of medical masks and other protective materials, as well as too few doctors.

Meanwhile, BitGive Foundation, the world’s first non-profit organization powered by blockchain and Bitcoin, recently named Bitcoin as the most charity-friendly currency. Bitcoin has the ability to facilitate remote and private transactions that are not only affordable but also executed in real-time to ensure instant settlements.

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