Binance will donate $5 million in BNB to users affected by the earthquake in Turkey

Every client living in disaster-affected regions will receive $100 in native tokens of the exchange

07.02.2023 - 16:10

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What’s new? Crypto exchange Binance will airdrop $100 worth of BNB native tokens to all users from the regions most affected by the earthquake in Turkey on February 6. Customer identification will be based on Proof of Address (PoA) completed before February 6 in 10 cities. Although PoA has its limitations and inaccuracies, it is the best method available to the Binance team to locate potentially affected users. The exchange estimates that the total amount of donations will be about $5 million.

Announcement on the Binance blog

What else is known about Binance’s help? Users from the cities of Kahramanmaraş, Kilis, Diyarbakır, Adana, Osmaniye, Gaziantep, Şanlıurfa, Adıyaman, Malatya, as well as Hatay region can expect help from the exchange.

Binance Charity has launched a public address for donations to which anyone can donate. Donations to the Emergency Earthquake Appeal will be accepted in BTC, ETH, BNB, BUSD, and XRP.

The exchange’s representatives noted that after natural disasters people often lose access to traditional banking services, although this is the moment when they need additional funds to pay for medicine, food, and other vital needs. Crypto transfers are now increasingly being used to provide financial assistance to disaster victims because they provide fast, low-cost, borderless, and transparent transactions.

Binance CEO Changpeng Zhao expressed hope that the exchange could bring some relief to those affected. He also called on industry colleagues to unite and support people at this moment.

In May 2021, Ethereum co-founder Vitalik Buterin donated most of his money (about $1,2 billion) to fight COVID-19 in India. Zhao later said he intended to give up to 99% of his fortune to charity.

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