Crypto Companies Rush to Help Turkey and Syria Earthquake Victims – Blockchain Beyond Borders?
A 7.8 magnitude earthquake sent shockwaves across Turkey and Syria on Monday. The incident has been coined the 'deadliest in a decade'.
Caused by a 100km rupture at the East Anatolian fault, the epicentre was 26km East of Nurdagi. Only the third earthquake on the strike-slip fault to measure above 6 on the Richter scale since 1970.
So far authorities have confirmed 3,700 deaths. Expectations of this number rising are abundant as survivors battle freezing winter conditions.
Twitter has rallied around the disaster. And crypto twitter is no exception as influencers rush to offer support and prayers.
One Turkish crypto trader has even begun soliciting crypto donations. Claiming they will be sent directly to local friends of NGOs.
A smart move, Giving Block says that $11,000 is the average size crypto donation. This far exceeds traditional fundraising efforts.
The CEO of Binance, CZ, (the world's largest exchange) was quick to offer reaction on the platform.
After briefly expressing his sadness at the incident, CZ made a surprise announcement. CZ is working on solutions.
Things are moving fast, and details are sparse. But it can be confirmed there is now a team at Binance working on providing disaster-scale relief according to the announcement.
CZ added that he had four meetings today (Tuesday 7 February) to push things along promptly and get help where it's needed.
This isn't the first time that Binance has jumped to step into international incidents.
Acting through its philanthropic arm - Binance Charity - the leading crypto exchange has become an actor in a plethora of theatres.
Most notably in the aftermath of Russia's invasion of Ukraine.
Specifically, in response to 12,000,000 displaced or refugee people.
Binance offered an initial
Read more on cryptonews.com
