Chinese Crypto Companies Helping Flood-hit Henan Victim Through Huge Donation
Three crypto firms of China donated huge amounts of Yuan to help those people who are victims of Flood-hit Henan in China.
Even the government of China banned crypto related services whether it was mining or trading. But still those crypto related companies which shifted their business to another country, are still helping their nation in such a pandemic situation of Flood-hit in which 20 people got dead as of report 20 July.
At first, Bitmain, crypto mining firm, announced to donate $1.54 million to the charity federation in Zhengzhou on 23 July. Total 10 million Yuan in native Currency of China.
Bitmain is a crypto mining firm. Before the China’s Crackdown on crypto mining & trading ban, Bitmain was a big supplier of Bitcoin mining machines but after China’s Crackdown they decided to move into crypto mining business also, so that they can expand their business at a huge level. Also they were under pressure to run their business because most of the people were re-selling their mining equipment, so it was not easy for Bitmain to run their business of Mining hardware production.
FTX, which is also a crypto Exchange, donated 10 million Yuan Zhengzhou charity federation on 23 July.
As the rule of China’s on crypto censored all crypto exchanges and also they censored all Chinese social media profiles of these services. But still FTX’s profile is available which gained around 60,000 followers.
The producer of Antchain, Ant Group, donated 100 million Yuan through the Alipay foundation.
Ant group stated
it would use the money to buy flood-prevention equipment and items to support frontline volunteers.
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