Binance’s charity arm is donating to the victims of the Aug. 4 explosion that rocked the city of Beirut, Lebanon’s capital.
Binance's Beirut Relief Fund campaign has committed $20,000 in donations to the victims of a devastating explosion that claimed the lives of over 150 people and injured 5,000 more.
Binance will donate $10,000 directly to Beirut victims with a further dollar-per-dollar amount in crypto matched for each donation it receives, up to a total of $10,000.
According to a company blog post on Tuesday, Binance Charity lead Helen Hai said the organization would "work closely with local partners to help improve conditions and livelihoods."
On Aug. 4, 2,750 metric tonnes of a highly explosive chemical used in agricultural fertilizers exploded, wreaking havoc and displacing some 300,000 people.
Immediately following the blast, a group of Lebanese expats residing in Europe quickly mobilized to raise relief funds with crypto. The effort was conceived as a way to bypass Lebanon's banking crisis.