A powerful earthquake that struck Turkey and Syria on Monday, February 6, caused widespread destruction and claimed over 1,700 lives. The earthquake had a magnitude of 7.8 and was followed by another severe quake of magnitude 7.5, as well as several smaller tremors felt across the region. In the wake of this devastating natural disaster, the cryptocurrency sector is stepping up to provide support and aid to those affected.
Several crypto exchanges have come forward to offer aid packages and contribute to the relief efforts. These exchanges include Gate.io, Binance, Bitfinex, Bitget, Bybit, Bitget, and BitMEX. The support from the crypto industry is a testament to the growing role that cryptocurrencies and blockchain technology can play in addressing global challenges, including natural disasters.
Governments and organizations around the world have also rallied to support the victims of the earthquake. They are providing essential resources such as medicine, rescue equipment, financing, and manpower. The combined efforts of the cryptocurrency sector and various governments and organizations demonstrate a strong commitment to helping those in need and providing much-needed aid during this difficult time.
Prominent Crypto Exchanges Vow to Aid Those Impacted by the Earthquake in Turkey
The international cryptocurrency trading community has swiftly responded to the devastating news of the earthquake that wreaked havoc in some parts of Turkey and the surrounding area. In recent years, Turkey has emerged as a thriving crypto market, and digital asset exchanges are now stepping forward to assist Turkish traders, their loved ones, and those affected in the region.
On Tuesday, Binance, the largest cryptocurrency trading platform in the world, declared that it will distribute $100 worth of BNB tokens to all its users residing in the regions that have been hardest hit. The firm stated that it will determine eligible customers through proof of address and release a total of approximately $5 million.
Other competitors such as Huobi, Bybit, and OKEx have also pledged to support Turkey. According to a statement by its Chief Marketing Officer Haider Rafique, OKEx will offer 1 million Turkish Lira (equivalent to more than $53,000) in financial aid to those affected by the natural disaster.
Bitfinex expressed similar sentiments, announcing that it was actively working on a support package for those impacted by the earthquake. Bybit conveyed its sympathy and emphasized that assistance was being dispatched to the affected region. BitMEX joined in the effort by pledging to donate the proceeds from its weekly Trading Competition to the Red Crescent and encouraging others to do the same. Bitget, too, was taking concrete steps to provide aid.
The CEO of Huobi, Justin Sun, announced the creation of a 2 million lira aid fund by Tron exchange and blockchain in honor of those who perished in the devastating earthquake. The magnitude 7.8 tremor hit South-eastern Turkey and Western Syria on Monday, and the death toll, which is still rising, has surpassed 9,000.
Bitmex also donated for this purpose as it announced on Twitter that it will donate the profits from its trading competition this week to the Turkish Red Crescent. Bitfinex and Tether expressed their sympathies and committed 5 million lira towards immediate humanitarian assistance and recovery efforts. They also stated their intention to explore ways of providing ongoing support in the rebuilding of Turkey’s future.
Final Thoughts
It is heartening to see the cryptocurrency community come together to support those affected by this tragedy. These efforts show the true power of cryptocurrencies and blockchain technology in bringing people together and making a positive impact on the world.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.
