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Binance Charity Pledges $20K to Beirut Explosion Relief Efforts

Binance's charity arm is donating $20,000 to the victims of an explosion that rocked Lebanon's capital earlier this month.

Aug 18, 2020 at 8:00 a.m. UTC
Updated Sep 14, 2021 at 9:44 a.m. UTC

Binance's charity arm is donating to the victims of the Aug. 4 explosion that rocked the city of Beirut, Lebanon's capital.

  • Binance's Beirut Relief Fund campaign has committed $20,000 in donations to the victims of a devastating explosion that claimed the lives of over 150 people and injured 5,000 more.
  • Binance will donate $10,000 directly to Beirut victims with a further dollar-per-dollar amount in crypto matched for each donation it receives, up to a total of $10,000.
  • According to a company blog post on Tuesday, Binance Charity lead Helen Hai said the organization would "work closely with local partners to help improve conditions and livelihoods."
  • On Aug. 4, 2,750 metric tonnes of a highly explosive chemical used in agricultural fertilizers exploded, wreaking havoc and displacing some 300,000 people.
  • Immediately following the blast, a group of Lebanese expats residing in Europe quickly mobilized to raise relief funds with crypto. The effort was conceived as a way to bypass Lebanon's banking crisis.

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