Tuesday, August 20, 2019

Binance Charity Foundation Donates €88,000 in Malta’s Fundraising Event

Binance Charity Foundation (BCF), the charity arm of the cryptocurrency exchange donated €88,000 in a 12-hour event held in Malta. The organizers said the donation was the highest ever received and also, the funds raised this year surpassed any. This is because a total of €7 million was donated, surpassing a total of €6.04 million which was recorded last year.

€7 million Raised in L-Istrina Charity Event

The charity event dubbed, L-Istrina began on boxing day and ended 12 hours later. This was a televised event where funds were solicited from citizens as well as other well-wishers. The aim is to raise funds which will be used to improve the standard of living of less privileged people living in Malta. Unlike other years where this event served as a fundraising platform, this year saw the highest revenue of over €7 million being generated.

Binance Charity Foundation made part of the donation and theirs was the highest. The charity arm of the company gave out €88,000 which records as the most made by a single organization since the event began. This is a company who on December 19, opened a fundraising platform to support disadvantaged children in Malta.

Dignitaries at the L-Istrina Event

L-Istrina saw in attendance many reputable members of the state. Some of them were Marie Louise Coleiro Preca, Maltese President and Chris Fearne, the Deputy Prime Minister. The President received Binance’s donation and was quick to add that people are bound to recommend the generosity and solidarity of her citizens.

The Prime minister who was absent sent a televised message whose content served as an encouragement to people to donate. In his opinion, those who donate could one day be the ones to receive donations themselves. Based on reports, this is the first time he was absent at the fundraising event.

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Binance Partners With Tron to Donate to Maltese

It can be recalled that on December 23, Justin Sun, Tron’s CEO announced that his company and Binance have decided to donate $100,000 (in cryptocurrency) each. The duo was also collaborating with Malta Community Chest Fund Foundation, Malta’s National Charity, an organization that reached out to 15,000 people in need in 2017.

Asides Binance, Coinbase, a cryptocurrency exchange recently concluded its 12 days of Christmas event. On the 5th day of the event, the exchange donated $100,000 worth of Bitcoin to Syrian refugees living in Greece. The company revealed that these people found it difficult to gain access to financial services and as such, they had settled to send them cryptocurrency funds instead of fiat money.

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