Huobi Jumps In To Help Coronavirus Victims After Binance

By Kapil Gauhar

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.

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.

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.

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.

Emin Gün Sirer, the Cornell University professor and blockchain CEO, stated that the industry is in ‘dire need’ of growing up.