Cryptocurrency exchanges have taken the lead in helping people in Turkey, who have been affected by this week’s catastrophic earthquake. Despite the limited scope of crypto business, companies are offering assistance and making donations to charities to help in reducing the damage.
Leading Exchanges Pledge To Aid Earthquake Victims in Turkey
The global cryptocurrency trading and buying sector has responded quickly to the disaster that has struck Turkey this week. The country has become an increasingly popular crypto market in recent years and exchanges are offering to help the merchants, their families and neighbors in need.
Binance, the world’s largest cryptocurrency selling and buying platform, has announced it will offer $100 worth of BNB tokens to all customers living in the most affected areas. The firm said it would identify eligible customers based on their proof of address and distribute a total of around $5 million. It should also be noted:
Transfers via crypto are becoming more common in order to help victims of disasters due to the quick, easy, borderless and transparent transactions.
Additionally, Binance Charity is accepting donations in various currencies, which can be converted to Turkish Lira and sent to an NGO. “We hope that our efforts bring some relief to those affected. We are also calling on our industry peers to come together once again to offer support in these difficult times,” said Binance Founder and CEO Changpeng Zhao.
Competitors like Huobi, OKEx, Bitget and Bybit have also pledged their support for Turkey. OKEx announced it will donate 1,000,000 Turkish Lira, while Bitget is donating the same amount. Huobi’s CEO Justin Sun revealed the establishment of a 2,000,000 lira fund to assist those who lost their lives in the powerful earthquake. The number of people who have died due to the 7.8-magnitude earthquake in Southeastern Turkey and Western Syria on Monday has surpassed 9,000.
Coinex stated in a Facebook post that it is possible to help people in all countries. Bitmex tweeted they will donate all proceeds from the week’s trading to the Turkish Red Crescent. Bitfinex and Tether also expressed condolences and pledged 5,000,000 lire for immediate relief and humanitarian assistance. They also said they will “look for ways to provide continued support to help Turkiye rebuild for the future.”
We encourage all those affected by the terrible earthquake to share their thoughts. Turkey and Syria.
BitMEX will donate all proceeds from the week’s trading to the @Red Crescent. We encourage all who can to donate to do so. #GeçmişOlsunTürkiye
—BitMEX (@BitMEX) February 6, 2023
Singapore-based crypto derivatives platform Bybit has announced it will send $100,000 to Turkish Disaster and Management Authority (AFAD). The nation’s Financial Crimes Investigation Board (MASAK) has approved an initiative by a charity named Ahbap, led by Turkish singer Haluk Levent, which collects cryptocurrency donations. The campaign will continue until February 13.
Can you rely on other companies in the crypto industry to help Turkey handle the disaster? Please leave a comment below.
