Crypto Companies Donates Millions in Response to the Earthquakes in Turkey and Syria
Cryptocurrency firms, such as Binance, Tether, Bitfinex, OKX, and Kucoin, have committed to donating over $9 million in crypto donations to support those affected by the catastrophic earthquakes that struck Turkey and Syria in the early hours of Monday.
With the death toll surpassing 7,000 and over 20,000 injured, the crypto community has once again demonstrated its commitment to humanitarian aid by collectively donating over $9 million. The Avalanche Foundation has also shown its mettle by contributing $1 million worth of AVAX tokens.
“The Avalanche Foundation and community have a strong connection to Turkey, and these funds will aid in the quick recovery from this disaster,” said Aytunc Yıldızlı, Executive Director of the Avalanche Foundation, in an email. “It’s crucial for us to come together and demonstrate that cryptocurrency can be a positive force and bring hope to those affected.”
“The earthquakes in Turkey have caused immense damage and suffering, and we hope that our donation will provide some relief,” said Binance CEO Changpeng Zhao in a press release. “We are calling on our peers in the industry to come together and offer support during this crisis.”
Zhao tweeted, “It’s time to take care of our users.” Binance plans to airdrop $100 worth of BNB (1883 TRY) to users in the affected region, totalling $5 million.
“The disaster has been catastrophic and affected many people,” Tether stated in a press release regarding the donations. “We express our sympathies to the people of Turkey and send our thoughts and support to those affected.”
Joining the list of founders and companies contributing to disaster relief, Justin Sun, the founder of Tron, pledged to donate $1 million worth of TRX from the Huobi Global cryptocurrency exchange.
In February 2022, the crypto community, including Ethereum co-founder Vitalik Buterin, rallied together and donated millions to support Ukraine’s government and local NGOs in response to Russia’s invasion, which was dubbed “the world’s first crypto war.”
Recently, several Decentralized Autonomous Organizations (DAOs) have emerged to aid in the humanitarian efforts after the earthquake in Turkey and Syria. However, as with any sudden surge of fundraising after major disasters, there is a risk of scams among legitimate efforts.
To ensure that these crypto donations reach those in need, it is important to properly vet these organizations. Projects like Endaoment and The Giving Block specialize in facilitating charitable donations through cryptocurrency.
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