Binance donates $1m in crypto to Australian bushfire relief

Binance’s Charity Foundation has announced a $1m crypto donation to help establish a new charity project for Australian bushfire relief.

The charity foundation is the philanthropic arm of the world’s most popular cryptocurrency exchange and today announced a $1 million US donation (A$1.45m) to get the ball rolling for its new Australian bushfire relief charity initiative.

“It is painful to see the bushfires burning across Australia as well as the devastating effects on the ecology and local community. We want to help this urgent crisis,” said Changpeng Zhao, Binance CEO – better known as CZ.

“Donating for the Australia Bushfires charity program is the most direct and effective approach to make an impact, and we are also calling for the whole crypto community to join us in supporting Australia.”

The Australian Bushfire donations page currently shows four donations (including Binance’s) on its running tally.

The Australia Bushfire Donations charity project accepts the cryptocurrency BNB and Binance says that all funds raised will be used to help alleviate the impact of the disaster and facilitate the restoration afterwards.

The foundation ensures all donations and allocations are transparently recorded on the blockchain and open to the public for verification.

Helen Hai, Head of Binance Charity Foundation, asked for the Australian community’s help in determining which charities, projects and communities to donate to.

“We will reach out to as many local organizations and communities as possible to pass on the donations we receive in crypto to the hands of each beneficiary,” she said.

“Please recommend to [email protected] if you know any who accepts crypto, or would like to. We appreciate your support in all forms.”

Aussie crypto community raising money

Binance is not the only crypto outfit seeking to help.

Earlier this week Finder launched a challenge to the cryptocurrency community worldwide, asking: “Can the global blockchain community unite as one to raise $50m?”

Crypto Bushfire Fundraiser

Alex Saunders from Nuggets News has also set up multiple wallet addresses to enable users to donate their cryptocurrency of choice to the Rural Fire Service of NSW.

Announcing the scheme on Twitter, he tagged in CZ from Binance asking for help, however it appears the new initiative is merely coincidental.

A spokesperson said they appreciated him calling on Binance to help with the crisis.

Bitcoin Babe has also set up wallet address to enable crypto donations to the Red Cross Bushfire Appeal.

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