Each customer living in the disaster areas will receive $100 in local exchange tokens.
What happened. Cryptocurrency exchange Binance will give away $100 worth of BNB native tokens to all users from the regions most affected by the earthquake in Turkey on February 6. Customer identification will be based on a Proof of Address (PoA) completed in 10 cities by February 6. While PoA has its limitations and inaccuracies, it is the best method available to the Binance team to locate potentially affected users. The exchange estimates that the total amount of donations will be approximately $5 million.
Binance Blog announcement
What else is known about Binance’s relief efforts? Customers from the cities of Kahramanmaras, Kilis, Diyarbakir, Adana, Osmaniye, Gaziantep, Şanlıurfa, Adıyaman and Malatya, as well as the Hatay region can expect help from the exchange.
Binance Charity has set up a public fundraising address where anyone can donate. Donations to the emergency earthquake appeal will be accepted in BTC, ETH, BNB, BUSD and XRP.
Exchange representatives noted that after natural disasters, people often lose access to traditional banking services, at a time when they need additional funds to pay for medicine, food and other vital needs. Crypto transfers are now increasingly being used to provide financial assistance to disaster victims because they offer fast, cheap, borderless and transparent transactions.
Changpeng Zhao, CEO of Binance, expressed his hope that the exchange could bring some relief to those affected. He also called on industry peers to unite and support people in this moment.
