Leading cryptocurrency exchange Binance donates USD 1m to Japan flood victims

One of the world's largest cryptocurrency exchanges, Binance is in the news again and for all the good reasons. It is donating $1 million to the victims in West Japan affected by heavy rains.

Japan witnessed unprecedented rainfall on July 7 that resulted in landslides and floods at several places. As per reports, more than 60 people lost their lives in a space of two days and more than a dozen people are still missing. An immediate evacuation of the two million people from the disaster-struck area was ordered by PM Shinzo Abe.

Following this, Binance posted a blog on Sunday pledging to donate USD 1m to all those affected in the Japan flood disaster. Moreover, it also urged other cryptocurrency enthusiasts to show their humanitarian side by donating as much as they can to the victims of the catastrophe. Binance has asked its users to donate to their cause by sending ETH or ERC-20 tokens.

The official blog read, "To help out the victims in West Japan that were affected by the heavy rains on 7/7/2018, Binance is donating $1,000,000 USD and calling for our crypto friends and partners to join us in the relief initiative."

Founder and CEO of Binance, Changpeng Zhao also posted a tweet sharing some information about their cause and also urging other people from the crypto community to come forward and help those affected.

As reported by CCN, so far, the Ethereum wallet made for this cause has received about $90,000 worth of ETH and $1.05 Million worth of ERC-20. This is not the first time that crypto community has come together to donate a sum for some special cause. Earlier, Ripple had also donated $29 million in XRP to DonorsChoose to improve the education system.