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Binance reaches out with over $1 million USD in funds for Japan flood victims

After a traumatic weekend of flooding in West Japan, the world’s leading crypto-exchange has organized an initiative to raise funds to assist with victim relief.

While it might seem like Vitalik Buterin has claimed the title of the sole humanitarian figure in cryptocurrency, Binance is showing the world that there are other altruistic entities in the industry.

In a move towards the charitable, the leading cryptocurrency exchange has pledged to donate $1 million USD towards the victims of floods in West Japan. The exchange stated that they are donating the funds as well as “calling for [their] crypto friends and partners to join [them] in the relief initiative.”

The press release was published after the flooding and landslides that shook Japan on the weekend, which has seen the death of sixty and several locals missing. Binance is urging investors to assist and donating Ethereum or Ethereum-based tokens to a provided wallet, asking for users to:

“Send ETH or ERC20 tokens you want to donate directly to the Binance donation address 0xA73d9021f67931563fDfe3E8f66261086319a1FC”

The team has explained that the funds will explicitly go towards relief for the victims:

“All outgoing transactions from the Binance donation address will be explained by Binance and used for charity purposes only.”

Binance’s CEO and founder Changpeng Zhao has also reached out on his personal accounts, asking the community to aid, as well as providing promises to offer logistical information regarding the initiative, such as delivery and administrative resources.

Currently, the wallet to which funds are being sent is sitting on approximately $90,000 USD worth of ETH and $1.05 million USD of ERC-20 tokens and the number is building.