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What happened? Crypto exchange Binance will distribute $100 worth of native BNB tokens to all users from the regions most affected by the February 6th earthquake in Turkey. Customer identification will be based on a Proof of Address (PoA) completed by February 6 in 10 cities. 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 about $5 million.
Binance Blog Announcement
What else is known about the help of Binance? Clients from the cities of Kahramanmarash, Kilis, Diyarbakir, Adana, Osmaniye, Gaziantep, Sanliurfa, Adiyaman and Malatya, as well as the Hatay region, will be able to count on the help of the exchange.
Binance Charity has launched a public donation address that anyone can donate to. Donations to the Emergency Earthquake Appeal will be accepted in BTC, ETH, BNB, BUSD, XRP.
Representatives of the exchange noted that after natural disasters, people often lose access to traditional banking services, although at this very moment they need additional funds to pay for medicines, food and other vital needs. Currently, crypto transfers are increasingly being used to provide financial assistance to disaster victims, as they provide fast, low-cost, borderless and transparent transactions.
The head of Binance, Changpeng Zhao, expressed hope that the exchange could bring some relief to those affected. He also called on industry peers to come together and give support to the people at this moment.
In May 2021, Ethereum co-founder Vitalik Buterin donated the majority of his funds (about $1.2 billion) to the fight against COVID-19 in India. Zhao later stated that he intended to donate up to 99% of his fortune to charity.
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