Over the past week floods in western Japan have killed more than 60 people with dozens more missing. In some parts of the country up to 23 inches of water fell over a 24 period. As many as two million people have been forced to flee their homes in the worst flooding Japan has seen in recent memory. Today the world’s largest crypto exchange, Binance, announced that they plan to donate at least $1 million to support relief efforts in the country.
Binance have gone from strength to strength this year and the platform is said to be on target to clear at least $500 million in profits during 2018. The exchange has served over ten million users to date, and the company’s exponential growth shows no sign of abating just yet.
This is not the first example of Binance using their profits to creative and philanthropic ends. Just last month CEO Changpen Zhao announced that the exchange are developing a $1 billion fund to support new blockchain start-ups, but today’s news appears to be the largest charitable donation the company has been involved in to date.
Zhao announced the donation in a blog post and confirmed it via Twitter. The $1 million equivalent contribution will be sent in either BTC, BNB or Japanese Yen (JPY). Binance also called on the wider crypto community to support the fund, enabling users to donate via email or by sending ETH or ERC20 tokens directly to the company. Zhao said that Binance were in discussion with authorities to ensure funds were directed as appropriately as possible.
