Turkey Earthquake Victims Receive Millions from Crypto Community

Turkey Earthquake Victims Receive Millions from Crypto Community

Altcoin news, News

The globe is in sorrow after the recent deadly earthquake that struck Turkey and Syria, claiming the lives of approximately 12,000 people at this time and injuring tens of thousands more. The cryptocurrency community is collecting contributions worth millions of dollars in an effort to support those who were affected by the earthquake.

In less than a day, the Turkish rock singer Haluk Levent’s charity Ahbap raised around $2 million in crypto donations on the Avalanche, BSC, and Ethereum blockchains.

Avalanche Foundation contributed $1 million in AVAX tokens to Ahbap as part of the fundraising activities. Tron founder Justin Sun announced he is donating $1 million in TRX from the Huobi Global exchange to local crypto exchange Paribu.

Crypto firms Bitfinex, Keet, Synonym, and Tether pledged 5 million TRY for immediate humanitarian aid and recovery operations in Turkey. These companies also pledge to continue supporting Turkiye’s reconstruction efforts in the future.

All users of Binance who live in the areas most severely affected by the earthquake will get an airdrop of BNB tokens valued at $100 USD, according to the company’s announcement.

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Proof of Address (POA) submitted before February 6th in 10 towns where the earthquake had a substantial impact would be used to identify users. These cities are Kahramanmaraş, Kilis, Diyarbakır, Adana, Osmaniye, Gaziantep, Şanlıurfa, Adıyaman, Malatya, and Hatay.

Turkish artist Refik Anadol has launched a crowdfund with an ETH address. He will donate the money raised to charities AFAD and Ahbap. ByBit and OKX’s Turkish subsidiaries have each agreed to donate donations totaling $100,000 and 1 million liras (about $53,000), respectively.

The renowned NFT artist Pak launched an NFT platform for earthquake victim support. The first open-edition drop, “Cause #1” is now live for the Turkey Earthquake. Each NFT is worth 0.001 eth and the total funds collected will go to Ahbap.

The use of Bitcoin to raise funds for relief efforts in the wake of big disasters is becoming an increasingly widespread practice. One application of cryptocurrencies is to make charitable donations to those whose lives have been upended by the conflict in Ukraine.

Several different groups have turned to cryptocurrency as a means of sending money to those who are unable to utilize traditional banking systems as a result of the crisis. One of the most substantial contributions made by the cryptocurrency sector was made by Binance in February of last year when the company promised a minimum of $10 million to the relief fund for Ukraine.

Compiled by Coinbold

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