Feb 3, 2020 18:30 UTC
Feb 3, 2020 at 18:30 UTC
Huobi Jumps In To Help Coronavirus Victims After Binance
Crypto firms are showing their interest to help Coronavirus victims. Major Singapore-based exchange, Huobi too has announced a charity fund.
At the end of the last year, the outbreak of a new strain of this virus occurred in Wuhan, China. The disease is spreading quickly, with more than 4,600 individuals infected and 106 deaths.
Huobi Charity Fund
The outbreak has greatly influenced Chinese New Year plans, and the virus’ quick proliferation was aided by travel around the holiday.
Crypto firms, in reponse to the virus, have stepped up to offer financial aid. Before some days, Binance’s Changpeng Zhao announced that the exchange has pledged around $1.44 million to help those caught by the virus.
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
The Singapore-based widely trading platform announced the formation of Huobi Charity a few days ago. The first action of the new organization is set up as a response to the coronavirus to match Binance’s 10 million yuan fund with one of its own.
Huobi sends love and support to everyone impacted by the coronavirus. Huobi decides to establish @HuobiCharity Charity,and set up a 10 Million RMB fund to purchase protective equipment and donate to the medical staff working at the frontline.#coronavirus #Wuhan #prayforwuhan pic.twitter.com/2GBhzVOEdE
— Huobi (@HuobiGlobal) January 27, 2020
The new philanthropic wing of Huobi, in another post, gives some details as to how the charity fund is being put for the use. Local offices in Indonesia, Thailand, Argentina, the US, Japan, South Korea, and other locations are gathering protective medical equipment for those already fighting with the virus.
1/ We have mobilized resources of our local offices in South Korea, Japan, the US, Argentina, Thailand, Indonesia and other places around the world to purchase medical protective equipment for Wuhan.#coronavirus #Wuhan #prayforwuhan#Huobi4Wuhan #HuobiCharity pic.twitter.com/0LKa9RdLD7
— Huobi Charity (@HuobiCharity) January 27, 2020
Shilling Virtual Currency
Some have used the outbreak of the virus as a chance to shill cryptocurrency. Some proponents of the digital assets, as previously reported by BeInCrypto, took to Twitter to claim that it was ‘dirty fiat’ that was assisting the coronavirus to spread.
The commentators suggested that the outbreak of the disease was ‘becoming click-bait’ for some in the industry. Josh Rager, the industry analyst, quickly debunked the theory saying that Bitcoin was pumping thanks to the virus.
The coronavirus is almost becoming click-bait for crypto content creators
The short answer- $BTC has made no abnormal price changes during the recent panic waves though stocks in China have taken a significant hit
BTC is still ranging between $8k to $9200
— Josh Rager 📈 (@Josh_Rager) January 27, 2020
Emin Gün Sirer, the Cornell University professor and blockchain CEO, stated that the industry is in ‘dire need’ of growing up.
Yesterday, we saw a "selfie at a funeral," where a shameless promoter was trying to use Kobe's death to pump a coin.
Today, an article on coronavirus' impact on, of all things, crypto conferences.
This area is in dire need of adults in the room.
— Emin Gün Sirer (@el33th4xor) January 27, 2020