Binance Donates 1M in Crypto to Australia’s Bushfire Relief

News / 08.01.2020

With the occurrence of the Australian Bushfire that led to lots of destruction, Binance has shown it’s in-depth concerns over the incident where the company recently announced the creation of a charity project aimed at assisting the relief efforts that followed the outbreak of the Australia bushfire. In light of this charity project, Binance donated approximately $1 million cryptos to the Australia Bushfire Donation project that was also part of a contribution made in showing the commitment of funds related to relief efforts in restoring the effects of the fire. 

The Australia Bushfire

The Australia fire was considered one of the worst wildfires that were witnessed in decades. The Bushfire resulted in property destruction within the Australian region, presided by the start of a series of over 100 fires in September 2019. The fires affected areas of New South Wales, causing mass destruction to the ecology and the country’s economy. It was reported from the estimated 6.3 million hectares burned and an approximate number of buildings burned down that totaled over 2,500, leaving 28 death casualties reported on the 8th of January 2020. Also, close to 500 million animals that included mammals to reptiles, and even birds, died. It totaled to over tens of billions in losses suffered in Australia. 

Zhao’s Call to Australia Bushfire Donation Project 

The Binance CEO, Changpeng Zhao, commented on the Bushfire experience, stating that its effects were painful and caused a tragic loss. Based on his beliefs, the donation project served as the most impactful method of resolving the adverse effects and restoring the losses suffered from natural fires. He also indulged in uniting various communities in the crypto market in light of Australia’s fire issues. 

Travala confirmed Changpeng Zhao’s call towards the matter, prompting it to donate approximately 2% of its revenue earned in January to assist the bushfires’ victims. Other responses were also expected in light of the donation project supporting the restoration process based on the losses suffered in the natural fires. Travala.com tweet stated that “Travala.com pledges 2% of its total revenue in January to #Bushfire victims in Australia. # Travala’s donation will be done via Australian Bushfire Donations launched by @binancebcf.”

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Born in Bucharest, Marius is the founder of Crypto Adventure. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.