Binance and other crypto-organizations have extended support in digital and fiat currencies in response to the horrific earthquakes in Turkey and Syria.
Binance has pledged $100 in BNB to every customer in some of Turkey’s most afflicted areas. Gaziantep, Kilis, Kahramanmaras, Adana, and Malatya are some of the places targeted by Binance’s donations.
The world’s largest cryptocurrency exchange also set up a public donation address for people to send their crypto as a sign of support.
For Binance’s donations, a proof of address method is in place where victims can confirm their specific location in affected areas to receive help. The submissions were to be made before the 6th of February in the following areas: Adana, Adiyman, Diyarbakir, Gaziantep, Hatay, Kahramanmaras, Kilis, Malatya, Sanliurfa, and Osmaniye.
Natural disasters restrict a person’s access to traditional banking systems, where most of their money may be placed. Crypto donations are a suitable way to sidestep this barrier to financial support for essential needs such as food and medical assistance.
Avalanche too joined in giving support through crypto, giving $1 million in Avax tokens. According to its tweet, Avalanche made donations through the disaster relief effort initiated by Haluk Levent, a famous Turkish singer.
This is not the first time crypto was used to help out in a crisis. Binance has engaged in multiple joint ventures with the purpose of extending support toward Ukraine.
Another instance was Binance’s partnership with Ukraine’s supermarket brand Varus to allow for crypto payments in 9 cities.
Other crypto-firms have opted to go the traditional route and donate fiat currencies to Turkey. BitFinex, Keet, Synonym, and Tether pledged a total of $270,000 which is 5 million Turkish Lira.
According to Decrypt on the 7th of Feb, 7,000 lives have been lost to the earthquakes, 20,000 were injured and the casualty count is rising.
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Source: https://www.thecoinrepublic.com/2023/02/09/binance-avalanche-donate-towards-earthquake-relief-big-eyes-coin-wants-to-save-the-oceans/