Binance Has Donated $1M in Crypto Towards Bushfire Relief in Australia; Travala Pledges 2% of their January Revenue

News / 08.01.2020

Binance has shown concern about the bushfire in Australia. The company announced a charity project aimed at helping with bushfire relief efforts. It donated $1 million to the Australia Bushfire Donations project in addition to the funds committed to relieve the effect of this fire and enable the restoration.

According to the CEO of the firm, Changpeng Zhao, the bushfire and its destructive consequences are painful. He maintained that the donation was the most direct and effective method of making an impact. Zhao likewise called for the support of the entire cryptocurrency community on this issue in Australia.

Travala answered CZ’s call and joined Binance by donating 2% of their January revenue to bush fire victims, while other projects are expected to respond too.

The bushfire season from 2019 to this year is seen as the worst ever. As of January 8, it had caused tens of billions in damages and killed 28 people. In recent times, according to media reports in the country, the fires have destroyed thousands of homes and killed almost half a billion animals.

Binance’s Charity Foundation was launched in October 2018. The platform is based on blockchain and it facilitates the record of every donation and allocation for each project. According to charity reports, more than hundred thousand individuals have benefitted from its previous projects.

Helen Hai, Head of Binance Charity Foundation noted that the company is willing to do its part to ease the pain from this natural disaster. She continued that the company initially intended to empower people and assist the needy when it created the platform. The company is planning to reach out to several local organizations and communities to offer on the donations received in cryptocurrency.


Featured image courtesy of Shutterstock. Source: Cryptpress.

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.