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The Binance helps Turkey’s earthquake victims by airdropping free BNB tokens. Here’s what you need to know.
Binance will distribute $100 worth of BNB tokens for its Turkish customers who were affected by the earthquake.
The largest cryptocurrency exchange in the world Announcement Tuesday, Binance will drop $100 worth of BNB to Binance users who live in 10 areas where the earthquake had a significant effect. This includes Kahramanmaras and Kilis, Diyarbakir and Osmaniye.
The Proof of Address (POA), which was completed prior to February 6, will be used by the exchange to identify eligible users. Binance estimates that total donations will amount to $5 million USD or 94,000,000 TRY. According to the exchange:
People often lose access to traditional banks after natural disasters. This is when additional funds are required to cover essential needs such as food, medical supplies, and so on.
Binance Charity also has a public cryptocurrency donation address. This converts the received funds into TRY and then gives them to an “authorized non-profit to assist people in need.” CZ, Binance’s CEO and founder, said:
“The devastating effects of the recent earthquakes in Turkey on so many people, and their communities have been very severe. We hope our efforts will provide some relief for those who have been affected. We also appeal to our peers in the industry to come together once more to support those affected by these times of crisis.”
The crypto ecosystem is also supporting the victims of the earthquake by providing assistance.
Bitget, a cryptocurrency exchange, announced Monday that it would transfer 1 million Turkish Liras (53,100 USD) to funds for earthquake victims in Turkey. The exchange requested assistance in local logistics.
Tether, Keet and Synonym have all pledged TRY 5,000,000 ($265,550) towards the earthquake recovery in Turkey. A press release stated that the funds were pledged to “immediate humanitarian relief and recovery efforts.” [the companies] We will continue to support Turkiye in its rebuilding efforts for the future.
Gate.io, a crypto exchange, has also pledged 1 million Turkish Lira for earthquake victims. It also created a Turkey Earthquake Recovery Initiative. This is a collection of 1000 NFTs, which is intended to raise funds for Turkey.
Moreover, Turkish rock star Haluk Levent has Posted Avalanche, Binance Smart Chain and Ethereum donation addresses AhbapAn NGO that assists in disaster relief. These wallets are Tracked Nansen, a crypto research company, has so far raised over $2.8 Million in donations. More than 41% of this came in the form Avax.
Monday saw a devastating earthquake in southern and central Turkey, and western Syria. It caused widespread destruction and killed thousands.
Because they are fast, low-cost and borderless, cryptocurrencies have become a popular way to provide financial aid for disaster victims.
After the Russian invasion of Ukraine in February 2014, crypto assets were a viable way to raise funds for organizations in the country. However, banks began to put restrictions on cryptocurrency assets.