Binance will broadcast $100 worth of BNB tokens to its Turkish users affected by the recent devastating earthquake.
Largest crypto exchange in the world announced said on Tuesday that it would airdrop $100 worth of BNB to all Binance users living in 10 cities where the earthquake had a significant impact, including Kahramanmaras, Kilis, Diyarbakir, Adana, Osmania, Gaziantep, Sanliurfa, Adıyaman, Malta and deleted are included.
The exchange will identify eligible users using the Proof of Address (PoA) process completed before February 6. Binance estimates that the total donation will be around $5 million USD (or 94,000,000 TRY). Exchange said:
“After natural disasters, people often lose access to traditional banking at the exact time additional funds are needed to help cover medical supplies, food and other essential needs.”
Binance Charity has also launched a public crypto donation address that converts the money received into TRY and gives it to “authorized NGOs to help people in need”. Binance founder and CEO CZ said:
“The recent earthquakes in Turkey have had a devastating impact on so many people and communities. We hope that our efforts will bring some relief to those affected. We once again ask our industry partners to extend support during this time of crisis. Inviting to come together again.
Other organizations within the crypto ecosystem are also stepping up to support the unfortunate victims of the earthquake.
On Monday, cryptocurrency exchange Bitget announced that it would direct 1 million Turkish liras ($53,100) to help earthquake victims in Turkey. The exchange also asked for assistance with local logistics.
Bitfinex has Keet, Synonym and Tether Mortgage Try 5 million ($265,550) for earthquake protection in Turkey. According to a press release, the funds are pledged “for immediate humanitarian relief and recovery efforts”. [the companies] Will look for ways to provide continued support to help rebuild Turkey for the future.”
Crypto exchange Gate.io has also committed 1 million Turkish Lira to help earthquake victims. The platform also established the Turkey Earthquake Recovery Initiative, a collection of 1,000 NFTs aimed at raising funds for Turkey.
In addition, Turkish rock star Haluk Levant has Posted For Ethereum, Binance Smart Chain and Avalanche Donation Address ahbaap, an NGO helping in disaster relief. wallets that are track Crypto research company Nansen has so far received over $2.8 million in donations, of which over 41% have come in the form of Avax.
On Monday, a devastating earthquake struck southern and central Turkey and western Syria, causing widespread damage in the region and killing thousands.
Cryptocurrencies are becoming an increasingly widespread method of providing financial aid to disaster victims because they offer fast, low-cost, borderless and transparent transactions.
In February last year, following the Russian invasion of Ukraine, crypto assets proven Banks have started implementing restrictive measures as a useful method of raising funds for organizations in the country.
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