China Coronavirus

The world’s second-largest economy China is facing wartimes conditions as novel coronavirus continues its ugly streak. With over 31,532 coronavirus cases reported, the death toll has risen to 638. Sadly enough, the city of Wuhan is in a pitiful state. Currently, the city is facing a death rate of 4.1 percent due to coronavirus. 

In an attempt to control the spread of coronavirus, the government has isolated Wuhan. And now the city is facing a shortage of food and medical supplies. No crypto and no fiat is of any use to the residents of Wuhan. And that is why communities are coming together to help overcome the shortage.

The leadership team of Phemex, a cryptocurrency derivative exchange also did their bit to control the spread of coronavirus. With public service as their core value, the project donated 10K high-grade masks to the residents of Wuhan. By contacting mask suppliers in Japan and hospitals in Wuhan, the team made sure the masks were delivered to the city.

According to the team, a twitter user @piptitious helped them source the masks from Japan. Now that the Japanese government has raised some restrictions in sourcing the masks, the team is looking for alternatives to provide more help.

About Phemex: 

Phemex is a cryptocurrency derivatives exchange and promises to make derivative trading easy and more secure. The platform was launched in Nov 2019 and is led by eight former Morgan Stanley Executives. In the last 2+ months, the platform has attracted over 35K users and booked a maximum trading volume of over $400 million.

The platform promises to lower the entry barrier for retail traders in derivative trading. By building a highly intuitive, high-leverage and low-risk trading exchange, it intends to bridge the existing gap in the space.

Previously, we covered the story of a satoshi puzzle designed by team Phemex making rounds in the community. All in a bid to win 2.1 BTC.


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