Aug 18, 2020 at 08:00 UTCUpdated Aug 18, 2020 at 14:41 UTC
Binance’s charity arm is donating to the victims of the Aug. 4 explosion that rocked the city of Beirut, Lebanon’s capital.
- Binance’s Beirut Relief Fund campaign has committed $20,000 in donations to the victims of a devastating explosion that claimed the lives of over 150 people and injured 5,000 more.
- Binance will donate $10,000 directly to Beirut victims with a further dollar-per-dollar amount in crypto matched for each donation it receives, up to a total of $10,000.
- According to a company blog post on Tuesday, Binance Charity lead Helen Hai said the organization would “work closely with local partners to help improve conditions and livelihoods.”
- On Aug. 4, 2,750 metric tonnes of a highly explosive chemical used in agricultural fertilizers exploded, wreaking havoc and displacing some 300,000 people.
- Immediately following the blast, a group of Lebanese expats residing in Europe quickly mobilized to raise relief funds with crypto. The effort was conceived as a way to bypass Lebanon’s banking crisis.
Read more: Bitcoiners Launch Cryptocurrency Relief Fund Following Beirut Explosion
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