Crypto Raises $11.7 mn For Earthquake Victims
The cryptocurrency community has raised and pledged more than $11 million, less than 48 hours after two powerful earthquakes struck Turkey and Syria, killing over 9,400 people and injuring many more.
A number of cryptocurrency exchanges have made significant pledges, led by Binance, which will airdrop $100 worth of BNB to all of its users in Turkey’s hardest-hit regions — nearly $5 million. In total, $9 million has been promised.
Tron founder Justin Sun has pledged $1 million in TRX for the Huobi Global exchange.
And Turkish rock star Haluk Levent was able to obtain a special exemption from the country’s crypto ban, establishing a trio of multisig wallets that have attracted over $2.7 million in funding, including $1 million from the Avalanche foundation in AVAX.
The funds will be collected and distributed by Levant’s existing charity, Ahbap.
Baki Er, co-founder of Web3 analytics platform Lytera.io, described Ahbap as “Turkey’s most trusted charity organisation.”
Humanity Check, by artist and Visualize Value founder Jack Butcher, is sending all proceeds to Doctors Without Borders via crypto charitable donations firm The Giving Block, and is widely recognised as legitimate.
As for Binance, the world’s largest exchange said it was basing the donations on Proof of Address completed is owned by Binance.
In its announcement, Binance said that “in the aftermath of natural disasters, people often lose access to traditional banking at the exact moment when extra funds are needed to help cover medical supplies, food and other essential needs.”
(With inputs from Shikha Singh)
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