Binance Exchange Raises $1.4 Million for Japanese Flood Victims

Recent record breaking rains in Japan have left 222 dead and dozens missing—making it the deadliest rain-related disaster since 1982. In light of the recent tragedy, leading cryptocurrency exchange, Binance, has launched a relief campaign which has generated $1.41 million towards helping the victims.

Binance’s CEO, Changpeng Zhao, announced the start of the relief campaign last week, stating that Binance would begin by donating $1 million. Reports from today state that the exchange has raised an additional $410,000 over the last 7 days from 60 different investors. Contributions have come in the form of Ether along with 30 different ERC20 Tokens.

“We will give this donation to the disaster areas in multiple rounds,” reads a blogpost published today by Binance. “For our first round of donations, we will be converting 50,000,000 JPY worth of crypto into Bitcoin, and then into Japanese Yen. Since Binance does not have a presence in Japan, this will be conducted through our partners in Japan…Through our initial discussions with both NPOs’ leadership, we are confident that this Round 1 Donation will drive recovery efforts in two of the areas hit hardest by the West Japan Flooding.”

Binance has likely already begun the transfer process and has said that the company will post transaction details following its completion.

Changpeng Zhao is continuing to reach out to the cryptocurrency community for support. He has stated that projects who donate to the relief fund will be given “bonus points for future listing requests,” with the donated funds being put towards future listing fees.

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