A $100 BNB will be distributed to each Binance user living in the affected region of Turkey.
Binance, the biggest cryptocurrency exchange, has put its name on the list of companies that helped Turkish citizens impacted by the recent tragic earthquake.
Each of its local users will receive $100 worth of BNB, and it has opened a public donation address where anyone can make a donation.
Customers residing in the earthquake-damaged cities of Turkey, such as Gaziantep, Kilis, Kahramanmaraş, Adana, Malatya, and others, will get a $100 airdrop from Binance in BNB. $5 million, or 94 million Turkish lira, is the total distribution.
CEO Changpeng Zhao (CZ) addressed the issue, saying: “The recent earthquakes in Turkey have devastated so many individuals and communities. We hope that our efforts will help people who are impacted. We’re also urging our peers in the sector to come together once more to offer support in these difficult times.”
The exchange additionally created a public donation address where individuals can give BTC, ETH, BNB, BUSD, and XRP to reduce the suffering of the residents.
Bitget has committed 1 million Turkish Lira to aiding the relief efforts in solidarity with people impacted by the earthquake in Turkey.
If you can assist with local logistics, please message @bitgetturkey.
Our local team is working around the clock to make a positive impact.
— Bitget (@bitgetglobal) February 6, 2023
Bitget, Bybit, BitMEX, and Bitfinex, competitors of Binance, were the first cryptocurrency companies to aid victims of the disaster. While the others will supply aid supplies, BitMEX promised to give the Red Crescent the proceeds of this week’s Trading Competition.
Early on February 6, Turkey suffered its strongest earthquake in a century, which shook the southern part of the nation. More than 6,000 deaths were confirmed, and hundreds more are thought to be buried beneath the rubble.
Following natural catastrophes, people frequently experience difficulties using standard banking services, especially when they are most in need of them for basic necessities like food and medical supplies.
As a result, sending funds to catastrophe victims using cryptocurrency transfers has grown in popularity. This is because cryptocurrency transactions are quick, affordable, transparent, and unlimited, making them appropriate for sending funds in an emergency.
Using cryptocurrency to distribute aid after natural disasters are getting more and more common. As an illustration, cryptocurrency has been utilized to help those impacted by the war in Ukraine. Aid organizations have used cryptocurrency to send money and goods to people who can’t use standard banking services because of the crisis.
In the crypto ecosystem, other organisations are also stepping up to help the tragic earthquake victims in Turkey.