The crypto community has teamed up to fight yet another calamity, helping Turkey’s earthquake victims with millions in donations.
Cryptocurrency can facilitate faster and more seamless cross-border transactions, especially stablecoins. These features make it the most convenient means of transfer during an emergency.
The crypto community has always taken the initiative to help people across the globe during a crisis. It has yet again proactively helped the victims of the Turkey earthquake with millions of dollars in crypto donations.
Earthquake Victims Receive Millions in Crypto Donations
A 7.8 magnitude earthquake hit Turkey on Monday, resulting in over 9,000 deaths. The quake is none of deadliest since Fukushima in 2011. Thousands of people are injured and have lost their homes.
Changpeng Zhao, the Chief Executive Officer of Binance, announced an airdrop of $100 worth of BNB tokens to users in the affected region. The total donations from Binance are roughly $5 million.
The MEXC exchange donated food, drinks, cleaning, basic needs, and shelter materials to Turkey victims. Andrew Weiner, the Vice President of MEXC, told BeInCrypto: “At MEXC, we always put users as a top priority around the world, and now MEXC is giving this our way to realize that through caring. We made quick responses to partner with our local staff and provided some relief during this challenging time.”
Crypto Community Contributes
Ahbap Association, a non-profit organization based in Turkey, set up wallets on different chains to help the community make crypto donations.
The Ethereum chain has received $1.2 million in donations, according to data from Etherscan. The BNB wallet has over $644k balance, while the Avalanche wallet has over $1.18 million. It is essential for the community to only donate to addresses of well-known organizations and avoid sending funds to scammers.
The crypto community has been helping the affected people during various crises. Ukraine received over $20 million in crypto donations to help fight the Russian invasion in 2022.
Vitalik Buterin donated $1 billion worth of crypto as a COVID-19 relief to India in 2021. A U.K.-based children’s charity, the Children’s Heart Unit Fund, received over £100,000 (or $137,560) worth of crypto donations in 2021.
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.