The recent earthquake with a magnitude of 7.8 in Turkey and Syria has been labeled as the deadliest in a decade, with the death toll currently at 5,434 and expected to rise. The crypto community has responded to the disaster, with Twitter users offering their support and influencers in the crypto world calling for donations.
What is the Response of the Turkey Crypto Community?
One Turkish crypto trader has even started a campaign to gather crypto donations, claiming they will be sent directly to friends of local NGOs (non-governmental organizations).
The average crypto donation is reportedly around $11,000, which is higher compared to traditional fundraising efforts. The CEO of Binance, CZ, has expressed his sadness over the incident and confirmed that there is a team working on providing disaster relief. CZ had four meetings to push for prompt action and help those in need.
What is Binance and CZ Doing to Support Relief Efforts?
Binance is no stranger to providing aid during international crises. Through its philanthropic branch, Binance Charity, the leading cryptocurrency exchange has been involved in various efforts to help those in need.
In the past, Binance has provided $10 million to aid relief efforts in response to Russia’s invasion of Ukraine, which resulted in the displacement of 12 million people. They also partnered with local NGOs in the conflict zone to support their work.
Binance introduced the “Binance Refugee Card” in April 2022, which allowed vulnerable individuals to access the exchange and receive financial assistance through cash-based interventions. Over 15,000 people were given the card and received 75 BUSD per month for three months through the “Crypto-To-Cash” program.
Binance has a history of working on “blockchain for good” projects, such as collaborating with CARE to assist Sudanese refugees and working in Afghanistan to provide technology job training for women. These initiatives may provide insight into what form of aid Binance may offer in response to the recent earthquake in Turkey.
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