Crypto Firms Pledge $9 Million in Donations For Syria, Turkey After Deadly Earthquakes: All Details

The Avalanche Foundation has also donated $1 million (roughly Rs. 8 crore) in relief for affected regions.

Crypto Firms Pledge $9 Million in Donations For Syria, Turkey After Deadly Earthquakes: All Details

Photo Credit: Pexels

Binance has decided to airdrop its native BNB token worth $100 to its customers

Highlights
  • Crypto community aims to contribute to earthquake relief funds
  • Several regions around Turkey, Iraq, and Syria are affected
  • Digital wallets have been created to gather crypto donations
Advertisement

Devastating earthquakes wreaked havoc on Syria and Turkey earlier this week, leading to a humanitarian and infrastructural crisis in regions affected by the quakes. Crypto companies like Binance, KuCoin, OKX, and Bitfinex have come together to provide immediate financial aid to the victims of the natural calamity. These crypto firms have collectively pledged $9 million (roughly Rs. 75 crore) in emergency funds directed towards Syria and Turkey. The Avalanche Foundation has also donated $1 million (roughly Rs. 8 crore) as part of the relief measures.

In Turkey's most affected regions like Gaziantep, Kilis, Kahramanmaraş, Adana, and Malatya, Binance has decided to airdrop its native BNB tokens worth $100 (roughly Rs. 8,267) to its customers.

“Identification of the users will be based on Proof of Address (POA) completed before Feb 6th in 10 cities where the earthquake has had significant impact. While the POA method has its limitations and inaccuracies, it is the best method we have available for us to locate potentially impacted users. We estimate the total donations will be around $5 million (roughly Rs. 40 crore),” Changpeng Zhao, the CEO of Binance wrote in a blog post.

The BitMEX cryptocurrency exchange has decided to contribute the proceeds from its recently held Trading Competition to Turkey's Red Crescent organisation.

Meanwhile, Haluk Levent has teamed up with charity organisation Ahbap to create a multi-signature wallet to accept crypto donations towards relief funds for affected areas. The wallet is built on the BNB blockchain. The Block reports that Levent's digital wallet has already collected $170,000 (roughly Rs. 1.4 crore) in the Binance USD stablecoins.

A powerful earthquake with a magnitude of 7.5 on the Richter scale struck Turkey on February 6, impacting several regions including Cyprus, Jordan, Lebanon, Iraq, and Syria. Turkey and Syria have emerged as the most adversely affected regions.

Videos of buildings collapsing in the blink of an eye during the earthquake surfaced on social media. The death toll from the earthquake reportedly exceeded the 7,800 mark as of Wednesday.


Samsung's Galaxy S23 series of smartphones was launched earlier this week and the South Korean firm's high-end handsets have seen a few upgrades across all three models. What about the increase in pricing? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency, Binance, KuCoin, BitMEX, OKX
Radhika Parashar
Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More
Star Wars Jedi: Survivor Gameplay Reveals Planet Koboh, Weapon Dual-Wielding
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »