Major bitcoin exchanges pledge aid to earthquake-hit Turkey
Crypto firms pledge aid to earthquake-hit Turkey.
Cryptocurrency firms and digital-asset exchanges have pledged aid to Turkey following the devastating earthquake. Bitget has already allocated 1 million Turkish lira (about $53,000) for the affected.
Bitget has committed 1 million Turkish Lira to aiding the relief efforts in solidarity with people impacted by the earthquake in Turkey.
If you can assist with local logistics, please message @bitgetturkey.
Our local team is working around the clock to make a positive impact.
— Bitget (@bitgetglobal) February 6, 2023
The disaster has claimed more than 2,000 lives, and organisations and governments around the world are offering financial assistance and participation in rescue efforts. Representatives of the crypto industry have not stood aside.
Bitfinex and Tether pledged to allocate 5 million lira to humanitarian purposes in Turkey. The companies said they would seek ways to provide ongoing support for the country’s future recovery.
Bitfinex, Keet, Synonym and Tether Pledge 5 Million TRY for Turkiye Earthquake Recovery https://t.co/VauIwORqYa pic.twitter.com/zQtmTbBfMS
— Bitfinex (@bitfinex) February 6, 2023
Huobi Global, together with Tron, announced the creation of a fund of 2 million Turkish lira to support those affected.
BitMEX said it would donate the proceeds from this week’s trading competition to the Turkish Red Crescent. The exchange urged all industry participants who can support the setup to do so.
Our thoughts are with all the people who have been affected by the tragic Turkey-Syria earthquake today.
BitMEX will be donating the proceeds of this week’s Trading Competition to the @RedCrescent, and we encourage those who can donate to do the same. #GeçmişOlsunTürkiye
— BitMEX (@BitMEX) February 6, 2023
Bybit, through its local unit, will donate $100,000 to AFAD Türkiye (Ministry of Interior Disaster and Emergency Management Presidency) to help those affected.
We will be donating 100,000 USD to the AFAD Türkiye (Ministry of Interior Disaster and Emergency Management Presidency) to help those affected.
Stay strong and take care 💪🙏 https://t.co/ioDeFlRuw0
— Bybit (@Bybit_Official) February 7, 2023
The head of Binance Changpeng Zhao and CEO Crypto.com Kris Marshallek said the platforms would support the country and are currently examining ways to do so.
Binance clarified that they will airdrop to exchange clients in the most affected regions of Turkey $100 in BNB.
The company will apply the Proof of Address principle in KYC, noting that the method is imprecise. The total amount of donations, according to the platform’s calculations, will be about $5 million (94 million lira).
Binance Charity has also launched a public address for donations in BTC, ETH, BNB, BUSD and XRP.
“We hope that our efforts will bring relief to those affected. We also urge colleagues in the industry to unite again to offer support in these crisis times,” Zhao said.
The Gate.io team has begun assembling a relief package and coordinating its delivery with Turkish authorities.
We have started to prepare aid packages to help those in the earthquake area in Turkey, and we will deliver them in coordination with the authorities.
We will share more updates later ♥️ #Turkey #News #TurkeyEarthquake
— Gate.io (@gate_io) February 6, 2023
Representatives of the local blockchain industry have approached the authorities with a proposal to create official crypto wallets for organisations involved in relief efforts.
“This will pave the way for ecosystem actors to deliver humanitarian aid to Turkey through official channels, which will prevent abuse,” the petition signed by about 40 companies states.
They cited similar positive experiences in Ukraine and India.
As noted, within less than a month of Russia’s full-scale invasion, crypto donations to Ukrainian charitable funds had surpassed $100 million.
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