Binance wants to be a company close to its users, especially in difficult times. The proof, it really takes action to support its Turkish users. Binance will indeed release 100 USD in BNB to users in the regions most affected by the earthquake in Turkey.
Binance distributes crypto donations in Turkey
This is an action carried out by Binance Charity, the philanthropic arm of the crypto exchange. Like many other organisations, it mobilized to come to the aid of the Turkish population after the devastating earthquake which occurred on 6 February.
Concretely, Binance plans to drop 100 USD of BNB tokens in the regions most affected by the earthquake. This includes :
Binance Charity officials put the total donation amount at $5 million. The main beneficiaries of these crypto donations: users domiciled in Turkey. The exchange platform will use the proof of address (POA) to identify them. “The POA method has its limitations and inaccuracies. But it’s the best method we have for locating potentially affected users.” explain.
A public call for generosity
Binance did not just distribute 100 USD in BNB to its users in Turkey. The crypto company is also making a public appeal for generosity. Specifically, she created a public donation address allowing anyone to make crypto donations to earthquake victims in Turkey.
All donations collected will be converted into TRY and then donated to approved NGOs. The accepted cryptos are as follows:
“Binance stands with its users and we will continue to work on other ways to help our community in Turkey,” said Changpeng Zhao.
Through crypto donations made to users in Turkey, Binance shows that its community stands together. Thanks to this move, the crypto exchange certainly scores a good point. Especially since it is not always viewed favorably by regulators.
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