Cryptocurrency exchange Binance is one of the latest organizations to support India’s efforts towards containing the “second wave” of the coronavirus pandemic. Through Twitter, Binance CEO Changpeng Zhao announced their Charity team (Binance Charity) has secured about 175 oxygen connectors worth $200,000 and would arrive in Indian hospitals within seven days.
Zhao added that the team is still working on the over 1,000 connectors while also sharing his wishes in his own style – “Stay SAFU”.
Binance adds to the list of crypto entities helping India combat the pandemic that has outrun the country’s health system.
Indian exchanges have pledged Millions of USD
Several other exchanges have committed resources to helping India’s crisis.
Binance owned WazirX Exchange announced a fund of INR 8 Crore ($1.08M) Nischal Shetty, the CEO of WazirX said on twitter, their organization will commit the fund for Covid Relief and appealed other startups to contribute.
Coinswitch Kuber, one other Indian Cryptocurrency Exchange also Committed $1 Million to the cause. CEO Ashish Singhal announced on Twitter, his exchange would be contributing to the ACT Grants Initiative, a cumulative effort of Startups in India to contribute to Societal issues. ACT grants has raised over $10 Million for Covid Relief.
Ethereum Co-founder, Australian Cricketer, and others Donate Crypto
Ethereum co-founder Vitalik Buterin has also recently revealed a donation of 100 ETH and 100 MKR, amounting to approximately $650,000.
Other donors include former Coinbase CTO and board partner at VC firm Andreessen Horowitz, Balaji Srinivasan. He donated about 21.74ETH, valued at approximately $50,000.
Former pacer for Australia Brett Lee donated One Bitcoin to the Covid Relief fund driven by Polygon co-founder Sandeep Nailwal. The fund has already received over $3M in funding from various individuals and institutions globally. Given that the fund is coming in Crypto, Sandeep Nailwal has setup entities in crypto friendly jurisdiction, from where the fiat money (INR/USD) will be received and used for activities in India.
Nailwal’s appeal has been heard and answered, as the fund continues to accept donations, all this while the country’s banks are making it difficult for people to trade Cryptocurrencies.