Crypto Community Raises Millions for Earthquake Relief in Turkey and Syria
In recent days, the crypto community has stepped up to aid victims of the devastating earthquakes in Turkey and Syria.
The efficiency of the underlying technology has facilitated the quick transfer of over $5.9 million in cryptocurrency donations to organizations like the Turkish Ministry of Interior Earthquake Humanitarian Aid Campaign and Save the Children.
Businesses like Binance, Tether, and BitMEX have pledged over $9 million in support, joining the efforts of other industries and governments. Notably, Turkey is the largest crypto market in the Middle East and North Africa, and the region saw the highest crypto transaction volume growth in 2022.
This is not the first time the crypto community has come together to provide aid, with over $100 million in digital assets donated during the Russian invasion of Ukraine.
However, Chainalysis warns against sending donations without caution, as some terror groups have disguised their malicious campaigns as charity projects.
Bitfinex, Keet, Synonym, and Tether initially pledged to donate a total of $270,000 for the relief and recovery efforts in Turkey, as they express their commitment to support Turkey’s rebuilding for the future. As previously reported by CoinsPress.
Also, Gate.io, a prominent cryptocurrency exchange, is making arrangements to provide aid packages for those affected by the earthquakes. In the same vein, Bitget has announced its plan to donate around $50,000 to similar causes.