In recent weeks, a new virus in the coronavirus family (2019-nCoV) originated in China, specifically in the city of Wuhan. The virus has so far infected about 1,400 individuals.

The cases exist mainly in China, however, it has started spreading to the US, France, Malaysia, Singapore and beyond.

Reports indicate that hospitals in the city are being overrun due to the influx of cases, and those suspecting to be sick with this coronavirus. Videos circulating on social media say that there is shortage of masks and other protective material, along with limited doctors.

With this, the world has sprung into action, attempting to support these victims, and the crypto community isn’t left out. The CEO of Binance, Changpeng Zhao, who is a Chinese-Canadian, and his team have stepped out to offer their support.

Zhao recently revealed in a tweet that his company has pledged $10 million RMB ($1.5 million USD) to support coronavirus victims.

For #Wuhan, not realistic to do crypto to end beneficiaries.



Binance pledged 10m RMB ($1.5m USD) to help #coronavirus victims.



We didn’t make any announcements. But BCF/Binance team has been busy for the last few days.



Still need help to arrange logistics locally.🙋‍♀️ https://t.co/UH6FXgVSrX — CZ Binance (@cz_binance) January 25, 2020

Zhao seemingly denied using cryptocurrency in this donation by stating that, for Wuhan, it is not realistic to do crypto to earn beneficiaries. He added that though Binance didn’t make announcements, the team has been busy working on the logistics for this move.

With this move, Binance has become the first crypto company to have started a charitable initiative to help victims of the coronavirus outbreak.

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