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Crypto Companies to Aid Earthquake Victims in Turkey

Crypto Companies to Aid Earthquake Victims in Turkey

Early Monday morning, Turkey was hit with a series of severe earthquakes that took thousands' lives and leveled whole neighborhoods.

Binance is working on a solution to help those affected by the earthquake felt in Turkey, Syria, and other locations victims, with many crypto companies offering their support as well.

Turkish citizens need help

Currently, the company’s team members are discussing how to best help the victims, according to a tweet from Changpeng “CZ” Zhao.

The world’s largest cryptocurrency exchange is known for its humanitarian work with Ukraine. Amid the ongoing war with Russian forces, Binance partnered with Ukrainian pharmaceutical company ANC last month to offer crypto payment services for Ukrainian citizens. Also, the company provided cryptocurrency cards to Ukrainian refugees.

Back in April 2021, Turkey banned cryptocurrencies as a form of payment. Later that year, the government announced that a long-awaited bill regulating the asset class was ready.

Crypto companies provide support

According to a recent blog post, $270,000 will be donated by Bitfinex, Keet, Synonym, and Tether for relief and recovery efforts in Turkey as the companies pledge to continue supporting Turkey “rebuild for the future.”

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Another big crypto exchange, Gate.io, is preparing aid packages for those impacted by the earthquakes. Bitget said on Monday that it would send roughly $50,000 to similar causes.

In the wake of this tragedy, several charities accept donations in crypto to aid the victims of this unforeseen catastrophe.

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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