Bybit The latest in a string of cryptocurrency firms stepping up to fund initiatives against the relentless COVID-19 crisis is a crypto derivatives exchange. This Singapore-based entity is dedicating a portion of the awards from its upcoming trading contest, focusing on providing aid to kids affected by the virus.
Ever since the outbreak of the global health crisis, companies in the cryptocurrency world have been channeling donations to frontline non-profit organizations battling the disease's spread. Using their charitable divisions, these companies are teaming up with important partners to drive relief efforts in communities hardest hit by COVID-19.
A $100k Commitment from Bybit to UNICEF in Battle Against COVID-19
Bybit announced the news of its planned 10 BTC ($100K) donation to UNICEF via a press release shared with {-{em}-}Blockonomi{-{/em}-} on Tuesday. According to the press statement, the 10 BTC pledge comes from the exchange’s 200 BTC prize pot for the upcoming World Series of Trading (WSOT) competition.
As previously reported Published by Blockonomi, the opening edition of the WSOT kicks off in August. This event is set to bring together crypto derivatives traders from across the globe, engaging them in motivating matches designed to sharpen their trading skills.
Bybit's generous $100,000 donation targets providing crucial aid to children in disadvantaged areas. Through their contribution, UNICEF New Zealand points out that Bybit is helping fill a funding void for efforts aimed at over 1.6 billion young lives disrupted by the pandemic. statement Sharing his thoughts on the donation, Ben Zhou, Bybit's CEO, expressed:
“As the world continues to grapple with the extended impact of the COVID-19 pandemic, it is the vulnerable children who bear the brunt of its ramifications, being our future. Their lives are turned more challenging by schools shutting down, lack of essential care, and shortages of food, hygiene supplies, and medical resources […] Together with our vast community of global traders, we're harnessing this momentum to foster positive change in the crypto domain and give back to our own planet. With these aims, we're dedicating 5% of the WSOT's final prize pool to support UNICEF in its endeavors to protect, uphold, and expand children's rights and potential.”
In the words of Vivien Maidaborn, UNICEF New Zealand’s executive director, Bybit’s pledge significantly aids children disrupted by the pandemic, stating: “Our gratitude goes to Bybit and its traders for their considerate Bitcoin donations during this extraordinary global crisis.”
The Continuation of Crypto CSR Amidst the Coronavirus Crisis
The outbreak led to some crypto firms scaling down, yet numerous ones have donated funds to charitable entities battling the virus's spread. Previously in March, industry bigwigs like Binance and Ripple rallied many companies to initiate fundraising efforts.
often coordinated via their dedicated charity branches. COVID-19 relief efforts In June, The Giving Block, specializing in aiding non-profits to manage crypto donations, disclosed that they garnered over
$1 million in Bitcoin (BTC) and other digital currency contributions by collaborating with 50 fintech enterprises. Indeed, industry insiders were proactive in supporting those affected by the virus's onset. with non-profit entities supported by the UN to aid communities in Southeast Asia and Africa back in May. Peer-to-peer trading company Paxful has also been instrumental in curtailing the virus's spread in Africa.
Huobi Charity partnered Osato, an avid fan of Bitcoin, is often found shedding light on the latest Bitcoin developments. When not engrossed in industry narratives, he's either striving to exceed his top Scrabble score or internally mulling over an existential quandary. Reach Osato at [email protected]
