Cryptocurrency Exchanges Offer Aid to Earthquake-hit Turkey
According to the report, the global crypto trading sector has issued an immediate response to the news of the earthquake and other natural disasters that have caused massive destruction in Turkey and parts of its region. The crypto currency market is definitely growing in the country in the last few years. As a result, we have achieved tremendous growth and in view of this, we have also created a lot of employment in the market. Certainly digital assets exchanges are now stepping up to offer help to Turkey’s businessmen and their families and neighbors and to provide them with humanitarian aid and contribute to that campaign and more and more affected by the earthquake. All possible steps are being taken to protect the people. The world’s largest trading platform for cryptocurrencies, Binance, also known as the leading crypto exchange, has decided to distribute $100 BNB tokens to all affected users and the company said It will identify customers who meet sufficient eligibility based on proof of address and disburse approximately $5 million. Having said that, we have emphasized that the transfer of crypto should now be possible faster and become a means of obtaining financial assistance for the people suffering from the disaster, because of course, this transaction is faster and costs less. And it is borderless and considered to be transparent. Certainly we can say that this effort has been considered very important and if seen from the economic point of view, this effort is being seen very successfully. In addition, the crypto exchange is now also accepting donations of several coins that will be converted into Turkish currency and sent to an NGO. The leading crypto exchange makes a statement that it hopes its effort will bring relief to some affected people and certainly give them a chance to get help, and with this, sources from Changpeng Zhao, who is said to be the founder and CEO of the crypto exchange, It has been revealed that he is once again urging industry peers to extend support in times of crisis and once again to consider and come forward with the same And along with this they are asking to work together.
Competitors Huobi, OKEx, Bybit, and many others have also pledged their support for the Turkish country, saying that they are accompanying the leading crypto exchange in this campaign. Okx will reportedly provide one million Turkish lira (over $53,000) as financial aid for the victims of the natural disaster, and BitGate is donating the same amount, according to a statement by its chief marketing officer Haider Rafiq. Tron exchange and blockchain have pledged to set up a 2 million lira relief fund in memory of those who lost their lives in the wake of the powerful earthquake that struck southeastern Turkey and western Syria on Monday, Huobi CEO Justin Sun said. The death toll from the 7.8 magnitude earthquake continues to rise and has already crossed 9,000.
Coinex said in a Facebook post that it stands ready to help people in both countries, while BitMEX tweeted that it will definitely donate the proceeds of its trading contest this week to the Turkish Red Crescent. Bitfinex and Tether expressed condolences and pledged 5 million lira in the immediate humanitarian aid and recovery effort, as well as their continued support to help Turkey rebuild in the future. With this, Singapore-based crypto exchange Bybit announced that it will send $10,000 to Turkey’s Disaster and Management Authority and meanwhile the founder of the country’s Financial Crimes Investigation Board, Turkish singer Haluk. According to Levant, the initiative was approved by a charity named Ahbap to raise donations in the cryptocurrency and the campaign will run until February 13.
