In a heartfelt response to the devastating earthquake that struck Morocco on September 8, cryptocurrency exchange Binance has pledged millions of dollars in BNB tokens to aid relief efforts. The earthquake, measuring magnitude 7 on the Richter scale, resulted in over 2,000 fatalities in Marrakech, Morocco’s fourth-largest city.
Binance’s Generous Commitment
In an official announcement made on September 11, Binance committed to airdrop up to $3 million in BNB tokens to users residing in the affected areas. The Marrakech region, which bore the brunt of the disaster, will receive special attention.
Changpeng Zhao, the founder and CEO of Binance, further expressed his deep sympathy for the Moroccan people. He referred to the earthquake as “devastating.” Also, he extended his heartfelt condolences to those affected and called for unity in these trying times.
Binance will identify users in the affected region through a proof-of-address protocol conducted before the earthquake. Those residing in the Marrakech-Safi province, the hardest-hit area, will receive $100 worth of BNB tokens directly into their Binance accounts.
For Moroccan users living outside the Marrakech-Safi region, Binance plans to provide $10 in BNB tokens to each user. This initiative is expected to reach nearly 70,000 Binance users across Morocco, with distributions commencing on September 12.
Community Involvement
Furthermore, Binance has taken a proactive approach to garner additional aid. A public wallet address has been set up to accept contributions in various cryptocurrencies. They include BNB, Bitcoin, Ether, USD Coin, Tether, and Binance USDC. This move allows anyone, anywhere to contribute to the relief efforts.
This isn’t the first time Binance has stepped up to assist disaster-stricken regions. In March, they initiated a similar aid program to help those affected by intense earthquakes on the Turkey-Syria border, providing $100 airdrops in BNB tokens.
Crypto’s Growing Role in Disaster Relief
The use of cryptocurrency as a means of delivering aid to disaster victims is on the rise. Several key players in the Web3 space, including Binance, The Sandbox, Bitget, Tether, and Gate.io, have leveraged crypto to support communities affected by natural disasters.
This trend highlights the potential of cryptocurrencies in enabling swift and transparent charitable contributions during times of crisis.
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