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Bitcoin [BTC] and Ethereum [ETH] worth $500,000 donated by Binance towards flood relief in Japan

Ajay Narayan



Bitcoin [BTC] and Ethereum worth $500,000 donated by Binance towards flood relief in Japan
Source: Unsplash

Recently, the devastating floods in South-Western Japan resulted in 8 million people being advised to evacuate and 225 people dead. Binance’s Blockchain Charity foundation took the initiative to donate 56.7 million JPY worth of cryptocurrencies [63.03 BTC & 169.85 ETH] to help West Japan.

Binance cryptocurrency exchange had recently announced its charity initiatives where they would donate their listing fees directly to charity. They further established The Blockchain Charity Foundation [BCF], which is a non-profit organization focusing on delivering global sustainable development, with the help of blockchain technology. BCF’s main aim is to reconstruct philanthropy by developing the world’s first decentralized charity foundation.

According to the report, in order to reach out to the masses, the foundation took the aid of government agencies, local NGOs, and organizations. Due to an immediate need to help the victims, Binance transferred 61.09 BTC, which is approximately equivalent to 50 million JPY, to Miss Bitcoin Mai. The local supporter further converted the funds from her Bitcoin account and transferred it to different organizations.

Furthermore, the foundation initiated the second round of donation by directly using cryptocurrencies. Open Japan, an organization that works towards supporting victims affected by a disaster, opened a cryptocurrency account, and Binance transferred 169.85 ETH, which is approximately equivalent to 5.3 million JPY.

Furthermore, Binance directly donated 1.94316403 BTC to Bic Camera in order to procure appliances for the temporary shelters in Kure city, Hiroshima.

After the donation, Open Japan stated that it was not a difficult task to set up an account and Binance contacted them to proceed with the donation in order to help the victims from the disastrous floods. They further stated that the transaction was carried out instantly and they did not have any issues in converting the cryptocurrency into fiat. Open Japan added:

“Receiving this donation left us with a deep impression of cryptocurrency: both its growing effect on our world and its potential.”

Binance also stated that they would continue to support the weak and victims of such disasters with the help of cryptocurrencies.

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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.


Bitcoin nirvana is happening right now, says Max Keiser




Bitcoin nirvana is happening right now, says Max Keiser

Bitcoin’s price pump affected the altcoins’ valuation on an optimistic note. The digital coins recovered significantly this year after losing nearly 80% to 90% valuation since the market crash in the first quarter of 2018. As Bitcoin [BTC] continued to trade between $7,600 and $8,300, prominent analysts in the field speculated that the king coin could potentially spiral down a bit more. However, Max Keiser, a Wall Street veteran and host of the Keiser Report, who is also a noted Bitcoin bull is of the opinion that “crypto spring is here”.

The broadcaster, in the latest edition of the Keiser Report, stated,

“It’s just bleeding right into our lives we can hear the lawnmowers outside in there getting ready for crypto summer and then crypto fantasia crypto parallel dimension and the Bitcoin nirvana it’s all happening, it’s all happening, right now.”

Keiser also noted that the global economy was undergoing “deglobalization” which steemed out of uncertainty and volatility and added that there “was no way to hedge against that”.

Stacy Herbert, one of the most influential women in blockchain and a host alongside Keiser contributed to the discussion. She said at a time when deglobalization has hit the economy, one would certainly go along with Bitcoin. According to the broadcasters, trade wars between China and the USA was currently intensifying Herbert; While recalling history, they also took note that the empires started falling during the period of deglobalization which was eventually followed by the two world wars.

Keiser had previously remarked that “Bitcoin is hard money” very similar to gold, and added that it is going to “respond well to hyperinflation and hyper-money printing”.

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