Binance Facing Criticism for Earthquake Donations!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 19, 2023 15:00

Binance, the largest crypto exchange, took a great step to help people in need in Morocco and Libya recently. Binance CEO Changpeng Zhao has now supported the company’s $3 million crypto donation to support earthquake relief efforts in Morocco. Critics argued that it might not be easy to convert Binance’s native token, BNB, into Moroccan dirham and alleged that the donation was biased towards Binance users. However, Zhao cleared up the rumors that crypto could be quickly converted into cash and that the company’s donations aimed to help in any way possible. He also noted that the criticisms were common among traditional charity organizations unfamiliar with crypto.