Binance has donated 3 million dollars to the Red Cross in Spain to support flood victims

The major cryptocurrency exchange Binance has donated $3 million to the Spanish Red Cross (Cruz Roja Española) to assist those affected by the devastating flooding in Valencia.

Javier García de la Torre, the CEO of Binance's Spanish division, stated that a key mission of the exchange is to utilize digital assets in times of crisis. This donation will enable Spanish authorities to provide financial aid to victims, implement measures to mitigate the disaster's aftermath, and commence recovery efforts.

Fernando Pérez-Ordoyo, head of international relations at the Spanish Red Cross, expressed gratitude to Binance for the financial support, which will benefit several thousand individuals.

“By directing this donation to the Spanish Red Cross, we aim to assist those who need it the most. We stand with the Valencia community and are ready to support them,” said Binance's regional manager.

Last week, the Valencia region experienced a year's worth of rainfall, resulting in at least 217 fatalities. Rescue teams are currently searching for missing persons in underground parking facilities. The severe flooding also affected the Spanish city of Barcelona, where El Prat Airport— the country’s second largest— was partially inundated, leading to the cancellation and delay of over 80 flights and halting train services. The meteorological agency of Spain issued a red alert for some areas in Catalonia due to heavy downpours.

This isn’t the first time Binance has stepped in to help during natural disasters. Last year, following a massive earthquake in Turkey, Binance credited each of its Turkish clients with $100 worth of BNB tokens.