Binance Charity Pledges $20K to Beirut Explosion Relief Efforts
Binance's charity arm is donating $20,000 to the victims of an explosion that rocked Lebanon's capital earlier this month.
Aug 18, 2020 at 8:00 a.m. UTCUpdated Aug 19, 2021 at 3:45 a.m. UTC
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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.
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