RATE Group | Binance Exchange’s Charity Falling Short of Transparency Goals
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Binance Exchange’s Charity Falling Short of Transparency Goals

28 Jul Binance Exchange’s Charity Falling Short of Transparency Goals

Posted at 16:59h in Cryptocurrency News by

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The Takeaway:

  • The charity arm of Binance was reportedly financed late last year by donations of at least $13 million. A company spokesperson said, “the donated amount does not include the total committed funds.”
  • Less than half of the donations made to the Binance Charity Foundation (BCF) are accounted for on BCF’s website, which shows under $6 million worth of crypto.
  • BCF is partnering with the nonprofit AFRIpads for its Pink Care Token project but is still working to establish ties with actual recipients.
  • The nonprofit has a long way to go until it can reach its stated goal of being “100 percent transparent.”

Binance’s new Pink Care Token is putting a high-tech twist on the term “period equity.”

Earlier this month the philanthropic arm of the Malta-based exchange, Binance Charity Foundation (BCF), launched a program to give African girls sanitary products to help them stay in school. Helen Hai, head of BCF, told CoinDesk that cryptocurrency donations…

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