[2019-04-17] Crypto.com donates $500,000 worth of funds to Binance

[Unblock_news]

Binance received 28,888 BNB or approximately $500,000 in fiat money on its exchange platform from Crypto.com

Full article here: https://www.unblock.news/popular/crypto-com-donates-500-000-worth-of-funds-to-binance

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[joniboini]

It's actually not a donation to Binance per se, but funds that were sent to Binance Charity Foundation wallets (according to CZ). So the sender might want to use BinanceBCF to donate to other parties.

It is quite funny if somebody donates $500k to Binance as they can make that money from their own exchange.

[hugeblack]

Kris Marszalek, CEO of Crypto.com Chain, explained in another article that the reason for the donation was for charitable purposes, especially that the donation of one BNB is worth many days in school for children, but I think the purpose is manipulation.

At the conference, CZ announced that 1 BNB donated would equate to 66 days of school for a kid supported by Binance Blockchain Charity Foundation. The CEO of Crypto.com Chain said,

The currency (Crypto.com Chain (CRO)) has risen more than 28% in addition to some gains with Binance.

Overall it is good to see some charity acts in the cryptos market.

[rodel caling]

Intersting but need to clarified this crypto.com sent a huge funds in binanace for the charity donations not directly donated into binance. Happy to heard this huge amount of money goes into poverty using crypto currency this the indication crypto continue to their popularity.

[shamc]

It could be a listing fee agreement that they made previously, or a reward for them delisting bitcoin sv, something all exchanges should do to end this shitcoin.