Huobi and Binance, two major crypto exchanges, have decided to set up special funds to finance the fight against the corona virus. The outbreak began last year in the city of Wuhan in China. The infectious disease spread rapidly and according to media reports there are already over 6000 people infected and 132 dead.
Huobi wants to make a contribution
Wuhan and other cities in Hubei province have been quarantined. The outbreak of the virus has major economic consequences for China. The rapid spread is favoured by the fact that travelling at home and abroad is easier than ever before.
Most crypto exchanges have Asian roots, so it is not surprising that they are the first responders from the crypto scene. Just a few days ago, the CEO of Binance, Changpeng Zhao, announced that 1.3 million euros would be made available to help with the consequences of the disease.
As a result, Huobi has also decided to donate money. The Singapore stock exchange has founded Huobi Charity for this purpose. This fund also has 1.3 million euros (10 million yuan) at its disposal.
Equipment against the coronavirus
In a tweet, the stock exchange stated that the money will be used to purchase protective materials. In addition, financial support is to be given to personnel from the health industry. In a second tweet, further details became known. Offices in South Korea, Japan, the USA, Argentina, Thailand, Indonesia and other countries are collecting medical supplies to help stem the spread of the virus.
The picture in the tweet shows pallets of boxes. The stock exchange explained that 20,000 N95 protective masks have already been brought to hospitals in Huangguang and Hubei province. Huobi hopes to provide another 200,000 sets of protective equipment for medical personnel.