After severe storms hit Japan, the Binance reacted immediately and announced that it would donate its listing fees directly to the affected families.
A recent heavy storm in Japan led to severe flooding in the western part of the country, leading to the evacuation of 8 million people.
Bance immediately took the initiative and collected donations worth 56.7 million Japanese Yen for the victims. The exchange collected the money in Bitcoin (BTC) and Ethereum (ETH).
According to the company’s own report, the victims were quickly provided with 61.09 Bitcoin, equivalent to approximately JPY 50 million.
This amount was forwarded to the local supporter, also known as “Miss Bitcoin Mai”. The supporter converted the amount iont Fiat and later transferred it to various organizations.
In the second round of donations, Open Japan, another non-profit charity organization, conducted a campaign for the disaster victims and collected 169.85 ETH. This corresponds to an approximate value of $47,257.
In addition, Binance donated 1.943 BTC to Bic Camera for the acquisition of appliances for temporary shelters in Kure City.
Following the successful completion of this mission, One Japan reported that it was fairly easy to set up and operate a Binance account. The transactions were executed immediately at incredibly low cost. Open Japan also stated that the organization was very impressed by the functionality and potential of cryptocurrencies.
Binance and Ripple Lab have been major players in the crypto charity scene, having launched charity foundations to eradicate global poverty.
The Blockchain Charity Foundation (BCF), founded by Binance, aims to provide global sustainable development through the use of blockchain technology.
Binance announced it will donate listing fees to charity
Binance is also known for its transparency and support for the less fortunate. In a stunning move recently, the largest crypto exchange by trade volume publicized all listing fees and said that it will donate the entirety of proceeds to charity.