Following a pair of devastating earthquakes that destroyed buildings and left entire regions without electricity, water, and other essential services. Thee cryptocurrency community has made promptly responded by donating vast funds.
Less than 48 hours after two powerful earthquakes devastated Syria and Turkey, killing more than 9,400 people and injuring many more, the cryptocurrency community has raised and committed more than $11 million.
Large commitments have been made by a number of cryptocurrency exchanges, led by Binance, which will airdrop $100 worth of BNB to all of its users in the most severely affected parts of Turkey, totaling about $5 million. $9 million has been promised in total.
Justin Sun, the creator of Tron, has offered to give the Huobi Global exchange $1 million worth of TRX.
Additionally, Haluk Levent, a Turkish rock star, was able to circumvent the country’s cryptocurrency ban by establishing three multisig wallets that have garnered more than $2.7 million in funding, including $1 million from the Avalanche foundation in AVAX.
Ahbap “the most reputable charity organization in Turkey,” will collect and distribute the contributions sent to these addresses, according to Baki Er, co-founder of Web3 analytics platform Lytera.io.
Their wallet addresses are:
Avalanche AVAX tokens:
Although lots of individuals try to contribute what they have, Lucy Easthope, co-founder of the After Disaster Network and a global expert on disaster recovery, stated that cleaning out a closet isn’t very beneficial. She stated to BBC World News that:
“The most important, helpful thing at this moment is money. There are non-governmental organizations and charities and governmental organizations all powering-in now to help. What they need not just now, but for years ahead, is cash.”
Cryptocurrencies such as Finance Blocks ($FBX) are prime examples of mechanisms for cross border-payments without banks, perfectly fitting this description. Investing in FBX without being the victim of global money printing pandemic is a great way to sustain long-term wealth.
The worlds’ largest exchange, Binance, stated their intentions to base donations on Proof of Address forms submitted before February 6. Binance is the owner of CoinMarketCap.
Binance stated in its release that “in the wake of natural disasters, people frequently lose access to traditional banking at the exact moment when additional funds are needed to assist cover medical supplies, food, and other basic necessities.” Added was:
“Crypto transfers are now increasingly being used to deliver financial aid to disaster victims as they provide fast, low-cost, borderless and transparent transactions.”
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