Binance cryptocurrency exchange has become among the recent large organizations to support India as they battle the second wave of the Corona pandemic.
In a Twitter blog post, Binance CEO Changpeng Zhao has announced that already 175 oxygen connectors have been sent out to India and are expected to arrive within the next five days. The charity team is also organizing for other 1000 oxygen connectors to arrive in Indian hospitals at a later date.
Zhao ends his announcement by sending prayers to everyone in India battling it out.
Second Wave Pandemic Outruns Government Capacity in India
India is in crisis. The second wave of the Covid-19 pandemic has hit the country devastatingly, with hospitals and funeral homes filled to capacity.
The state government failed to anticipate the shortage of oxygen supply, and with only a tiny fraction of the population vaccinated, the worse may not be over.
The new covid mutant detected in India- the B.1.617 is supposedly more transmissible and immune to vaccinations. Its effects are harsher, and every new infection gives room for the virus to evolve tougher and render vaccines hopeless.
The situation in India serves to remind us that we are all at risk. Governments, corporations, and well-wishers have unitedly come forward to offer support in resources and prayers.
Other Crypto Players Supporting India
Ethereum’s co-founder Vitalik Buterin has also recently donated 100 ETH and 100 MKR to aid the situation in India. Cumulatively, this amounts to close to $650,000. The donations made by Ethereum came after Polygon’s co-founder Sandeep Nailwal appealed for help within the crypto world. According to him, he preferred crypto donations for their transparency.
“Today, fast and transparent flows of crypto into India are funding COVID relief. Tomorrow, we can use them to fund India’s small businesses and startups.”
Ironically, India has had plans to ban crypto assets, but they are now accepting their donations from the crypto platers supporting India.
As we await Binance’s pledge to donate over 1000 oxygen connectors, former Coinbase CTO Andreessen Horowitz and a board partner at VC firm, Balaji Srinivasan, have donated approximately $50,000 worth of ETH.