Binance to donate over 1,000 oxygen connectors to Indian hospitals

Binance to donate over 1,000 oxygen connectors to Indian hospitals
1 year ago
2 mins read

Cryptocurrency exchange Binance is one of the latest organizations to support India’s efforts towards containing the coronavirus pandemic after announcing a donation of over 1,000 oxygen connectors. 

Through Twitter, Binance CEO Changpeng Zhao announced that about 175 oxygen connectors worth $200,000 are already available and would arrive in Indian hospitals within seven days. 

Zhao underlined that the charity branch of Binance is still working on the over 1,000 connectors while also sharing his goodwill message to those fighting the pandemic.

Binance adds to the list of crypto entities helping India combat the pandemic that has outrun the country’s health system. 

Ethereum co-founder also contributes 100 ETH towards India’s Covid-19 relief

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.

The donation came after ethereum scaling platform Polygon co-founder Sandeep Nailwal appealed to the crypto world for help. Nailwal said he opted for crypto donations because of transparency. According to Nailwal:

“Today, fast and transparent flows of crypto into India are funding COVID relief. Tomorrow, we can use them to fund India’s small businesses and startups.”

Interestingly, the country continues to accept donations from leading crypto figures and entities despite India initiating plans to ban digital assets. 

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.