To combat the aftermath of this week’s catastrophic earthquake, crypto exchanges have come forward to lend a helping hand. In response, Turkey‘s fintech sector has authorized donations in cryptocurrency for an aid organization as part of its relief efforts. This monumental step encapsulates both the charitable spirit and power of cryptocurrencies that can be used to help those who need it most.
Lots of Help Coming from Crypto Exchanges
Crypto exchanges acted swiftly after the devastating news about an earthquake in Turkey and its surroundings. Recently, the nation has become a budding crypto market, and digital exchanges are now coming to the aid of Turkish traders, their relatives, and individuals from nearby areas affected by this disaster.
On Tuesday, Binance – the largest crypto exchange in the world – declared that it will be gifting $100 worth of its native tokens, called BNB, to all users living within heavily affected regions. To identify those who qualify for this magnificent offer and disperse a sum amounting to approximately five million dollars, pertinent proof of address must be presented.
Additionally, Binance Charity is now accepting donations in various coins to be converted into Turkish lira and provided to an NGO. Changpeng Zhao, Founder, and CEO of Binance, said, “We hope that our efforts will bring some relief to those affected. We encourage other industry peers to join us in these trying times and provide the necessary aid.”
Help From Other Exchanges Was Not Delayed
Competitors such as Huobi, Okx, Bybit, and others have pledged to back the people of Turkey in this time of need. According to Haider Rafique (Okx’s Chief Marketing Officer), they will provide 1 million Turkish lira ($53K+) in aid for those affected by this natural disaster. Joining them is Bitget, who is donating an equivalent sum towards recovery efforts.
In honor of the thousands who have lost their lives in Monday’s devastating 7.8 magnitude earthquake, Huobi CEO Justin Sun has announced a 2 million lira relief fund provided by Tron exchange and blockchain. As this tragedy continues to unfold, the death toll is now over 9,000, with no signs of slowing down. This charitable initiative will undoubtedly provide much-needed aid during these difficult times for those affected by this natural disaster across Southeastern Turkey and Western Syria.
Coinex took to Facebook with a message of support and readiness to aid both countries. Meanwhile, Bitmex committed its proceeds from the week’s trading competition to the Turkish Red Crescent. On top of that, Bitfinex and Tether have pledged 5 million lira for immediate humanitarian help and future initiatives in Turkey‘s rebuilding process. Through this expression of solidarity, these companies are determined to make a difference in times like these.
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