In response to the devastation caused by the recent earthquake in Turkey, Binance will donate $100 worth of BNB to all Binance users living in the hardest-hit regions.
User identification is based on a Proof of Address (POA) completed before February 6 in 10 cities where the earthquake had a significant impact, including Kahramanmaraş, Kilis, Diyarbakır, Adana, Osmaniye, Gaziantep, Şanlıurfa, Adıyaman, Malatya and Hatay.
Although the POA method has its limitations and imprecisions, it is the best method we have for identifying potentially vulnerable users. We anticipate that there will be around $5 million in donations overall (or TRY 94,000,000).
After natural disasters, people often lose access to traditional banking services just when additional funds are needed to cover medical care, food, and other basic needs.
Cryptocurrency transfers are now increasingly being used to provide financial assistance to disaster victims as they enable fast, low-cost, cross-border, and transparent transactions.
Binance Charity has also set up a public donation address where anyone can donate. Everything we receive at this address will be converted into TRY and donated to a non-governmental organization authorized to help those in need. Donations to the earthquake emergency line are accepted in BTC, ETH, BNB, BUSD, and XRP.
The founder and CEO of Binance, CZ, stated: “So many individuals and towns have been devastated by the recent earthquakes in Turkey. We hope our efforts will bring relief to the victims. We also call on our industry peers to come together again to offer support in times of crisis”.
Our team is committed to protecting Turkish financier and their families and providing all necessary support. During these challenging times, Binance is supporting our users and we will continue to work on other ways to help our community in Turkey.