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Crypto Community Raises Millions for Earthquake Relief in Turkey and Syria

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.

READ MORE: Crypto Winter? US Institutional Investors Withdraw from Market

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.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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