Binance, Brock Pierce Donate $1M to Puerto Rico's COVID-19 Fight

Brock Pierce’s nonprofit and Binance say they are buying $1 million in personal protective equipment to help fight coronavirus in Puerto Rico.

AccessTimeIconApr 30, 2020 at 12:10 p.m. UTC
Updated Sep 14, 2021 at 8:35 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Brock Pierce’s Puerto Rican nonprofit has teamed up with Binance to buy $1 million in personal protective equipment to help fight coronavirus in Puerto Rico and the Caribbean. 

Integro Foundation – run by one-time bitcoin billionaire Brock Pierce who in 2018 tried to make Puerto Rico into a crypto utopia – donated 44.5 BTC to Binance Charity on April 23. Binance Charity announced Thursday that it was matching that donation 2:1 at a valuation of $333,333 USD.

The foundation's Executive Director Antares Ramos-Álvarez told CoinDesk that Brock Pierce was underwriting the entirety of Integro's 44.5 bitcoin donation. He said that the supplies would go to "a mix of public and non-gubernatorial organizations."

"The target for the masks is for frontline medical workers," he said.

Binance representatives told CoinDesk that the gear would go to relief efforts in Puerto Rico, the Dominican Republic, Haiti and the Bahamas.

"This initiative is our way to support the true heroes, the first responders and medical workers, with the tools required to protect themselves as they serve others during this crisis,” Brock Pierce said in a press statement.

Pierce’s San Juan-based 501(c)(3) became an IRS-recognized nonprofit in 2018. Puerto Rican tax forms indicate that Integro launched in early January 2015. The nonprofit has no public history of any financial activity. It reported zero revenue, assets or expenses in 2015, 2016 and 2017 filings with the Internal Revenue Service. More recent filings were not immediately available. Integro’s tax form point of contact James Santos did not respond to a request for comment.

Binance Charity collected the donation under its Crypto Against COVID-19 campaign. That month-old effort has raised $3.7 million in crypto through public donations and Binance pledges, including the Integro/Binance match deal. Binance CEO Changpeng Zhao previously estimated that Binance’s total contributions will add up to “somewhere around $5 million.”

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.