- Following the 7.8 magnitude earthquake that hit Turkey, crypto companies like Tether, Binance, OKX, Bitfinex, Kucoin, Avalanche, Gate.io Keet, and Synonym, have donated more than ten million dollars in cryptocurrencies to help the victims of the earthquake.
The world is a chaotic place, there is no doubt about that, it is full of troubles, wars, power struggles, global warming, climate change and other defects that humanity has.
However, it is also full of people who do good without looking at whom, concerned about the well-being of others. The latter has become evident after the misfortune came to Turkey, a country in which an earthquake of magnitude 7.8 was reported. The earthquake was registered in the early morning of February 6.
Crypto market stands in solidarity with victims
While international aid begins to arrive, the world of crypto assets did not stand by, and has also begun to direct resources to help those affected.
In fact, various companies in the sector such as Tether, Binance, OKX, Bitfinex and Kucoin, indicated that they will send more than 9 million dollars in donations to help the victims of the earthquakes in Turkey and Syria last Monday.
For his part, avalanche Foundation joined the cause and donated $1 million in AVAX tokens.
Similarly, through Twitter, gate.io pointed out in regard to the earthquakes in Turkey and Syria, that there had been “started preparing relief packages to help people in the earthquake area in Turkey” and “hewill deliver you in coordination with the authorities“. Similarly, Changpeng Zhao, Executive Director of Binance, shared through his Twitter account a series of messages of support and promises of help.
“It’s time to take care of our users”he tweeted on his profile Zhaoadding that his company would release $100 (1883 TRY) worth of BNB, totaling $5 million, to users in the region.
Similarly, through an official statement, it indicated that:
“The recent earthquakes in Turkey have had a devastating impact on many people and communities. We hope our efforts bring some relief to those affected. We also call on our industry peers to once again come together to offer support in these times of crisis.”.
other companies Those who have decided to join efforts to help the victims of the earthquakes are Keet, Bitfinex, Tether and Synonymwhich, along with other consortia, voluntarily pledged to donate $5 million Turkish lira, approximately $266,000.
“It is clear that the scale of the disaster has been widespread and catastrophic. Our hearts go out to the people of Turkey, and our thoughts and prayers go out to all those affected.Tether wrote in a press release.
Music and crypto for Turkey
The crypto environment is not only companies in the sector, but also cryptocurrency enthusiasts who support through these various causes, such as the case of the Turkish musician and singer Haluk Leventwho upon learning of the natural disaster, met with Turkey’s financial watchdog to allow the creation of crypto wallets, in order to collect donations.
Thus, Ahbap, the singer’s charity, managed to raise around $2 million in digital assets, raised on the Avalanche, BSC and Ethereum blockchains in less than a day.
Cryptocurrencies important in natural disasters
After a tragedy like the one in Turkey and Syria, affected citizens often face a series of challenges in accessing traditional banking services to cover essential needs such as medical supplies and food.
Thus, the use of digital asset transfers is increasingly used to provide financial aid to victims, because the transfers are fast, profitable, transparent and without restrictions, essential elements to provide aid in emergency circumstances.
Turkey and cryptocurrencies
It should also be noted that the relationship between Turkey and the crypto market is closer than some might think. Turkey is the largest digital asset market in the Middle East and North Africa (MENA), the region that stood out in 2022 for recording the highest year-on-year (YoY) growth in digital asset transaction volume among all other regions.
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