Binance Charity, a non-profit organization associated with renowned cryptocurrency exchange Binance, has donated $ million to Spain’s Red Cross in response to severe flooding in the Valencia Region.
A statement issued by Binance Charity said the Valencia flood relief money would be used to support emergency actions and offer assistance to those affected by the catastrophe. The contribution would enable Spain’s Red Cross to acquire essential resources for the victims. Commenting on the development, the Spanish Red Cross’ head of international partnerships, Fernando Pérez-Ordoyo, thanked the charitable organization for its commitment and generosity, stating that the Red Cross “can provide immediate assistance to the thousands of affected individuals, supplying vital resources in this very difficult time.”
Leveraging Crypto to Bridge Existing Gaps
Known for promoting the innovative use of blockchain and Web3 technologies, Binance Charity has also been actively involved in providing humanitarian aid during natural catastrophes and other crises. The charity employs blockchain to ensure aid is distributed efficiently and transparently by leveraging the potential of Web3 and cryptocurrencies to bridge the gap between victims and the resources they need to rebuild their livelihoods.
While expressing his heartfelt sympathy for the victims, Binance’s General Manager in charge of Spain, Javier García de la Torre, emphasized the company’s commitment to offering crucial support during difficult times. Torre averred that the Valencia flood relief donation aimed at ensuring the affected individuals found their footing back into their lives and reaffirmed that exchange’s solidarity with the recovery of the affected community.
Binance Charity Deeply Involved in Global Relief Efforts
The $3 million Valencia flood relief to the Spanish Red Cross isn’t the first time Binance Charity is getting involved in a humanitarian activity. The exchange has previously participated in numerous donations in aid of international disaster relief. The non-profit branch of the exchange recently donated at least $1.5 million to BNB towards a community in Central Europe that was devastated by flooding last October. In several other crises, Binance Charity is on record offering massive support in different ways, including a donation of $10 million towards Ukrainian humanitarian efforts following the 2022 Russian invasion of the country.
Apart from Binance Charity, many other crypto firms employ cryptocurrencies for philanthropic causes. Records show that crypto firms spent a significant amount of funds in crypto to support communities that were affected by an earthquake in Turkey in 2023. Millions of dollars in digital assets were collected and transferred as aid to support efforts to rehabilitate the affected regions.
Maintain a Strong User and Community Focus
In the current crisis, the Valencia flood relief efforts are directed to areas on the east coast of Spain where storms ravaged roads, homes, and other infrastructure like bridges. Media reports indicate that at least 217 people have lost their lives in the current catastrophe, with several others still unaccounted for. The Spanish government has deployed over 2,500 soldiers, which brings the total of military personnel assisting the victims to 7,800, in addition to 9,500 National Guard officials assisting in the search for survivors.
From its earliest days, the world’s leading cryptocurrency exchange by trade volumes has used Binance Charity to maintain a strong user and community focus. Established in 2018, the firm’s philanthropic arm has aided and supported many communities affected by natural disasters. Apart from those affected by natural calamities, Binance Charity has also spent funds in supporting educational initiatives while trying to address digital exclusion in different parts of the world.
Conclusion
Beyond offering support to flood victims in situations such as the Valencia flood relief, Binance Charity has always been on the outlook to making a positive impact on society while impacting individuals and communities. The charity is currently driving several partnerships in Georgia and Brazil aimed at strengthening communities and human capital.
The non-profit organization also promotes gender equity through the Women in Tech initiative and has spent at least $240,000 to support women in blockchain in countries Burundi, Brazil, South Africa, Kenya, Uganda, Nigeria, and Zambia. The firm believes in using education and blockchain technology to facilitate equality across the genders.
