Binance donates $3m to aid flood-hit Valencia
The crypto exchange aims to assist the Spanish Red Cross with recovery efforts
Severe floods have devastated the Spanish region of Valencia, leaving communities grappling with widespread destruction and urgent humanitarian needs. In response, Binance Charity has stepped forward with a $3 million donation to the Spanish Red Cross (Cruz Roja Española) to aid in relief and recovery efforts.
The crypto exchange aims to assist recovery efforts and help affected communities, expressing its well wishes for the affected individuals on X.
#Binance is making a $3M donation to the Spanish Red Cross to support relief efforts following the devastating floods that hit the Valencia region in Spain.
— Binance (@binance) November 5, 2024
Our thoughts and prayers go out to all those affected.
Read more 👇https://t.co/ZzRPfYFGbf pic.twitter.com/TTyxp6bL6d
With this contribution, the Spanish Red Cross may mobilize resources to help those in need.
In Binance Charity's press release, Javier Garcia de la Torre, Binance Spain's General Manager, said “Our hearts go out to all those affected by the devastating floods in Valencia,” adding “At Binance, we are committed to leveraging our resources to provide critical support during these challenging times.”
The Spanish Red Cross’ Head of International Partnership, Fernando Pérez-Ordoyo, also shared that “We would like to express our sincerest gratitude to all the companies, such as Binance, that with their invaluable support are an essential part of the response to the recent flood.”
He added that “Their collaboration not only allows us to reach the most affected areas but also makes a significant difference in the lives of those facing loss and uncertainty… the solidarity and social responsibility of companies inspire us to continue working together for the well-being of our communities”
While this crypto donation for disaster relief is indeed notable, it is not the first time crypto donations have been given to support recovery efforts.
In 2020, the Italian Red Cross received notable crypto donations during the onset of the COVID-19 pandemic, as reported by Decrypt. Moreover, last year, Turkey received millions of dollars’ worth of crypto donations after experiencing devastating earthquakes.
Some of the largest nonprofits in the world, such as Red Cross and Greenpeace, also accept cryptocurrencies for donation.
