Binance Charity Commits $3 Million in BNB for Moroccan Earthquake Victims


168 Listen to this article In response to the recent earthquake that rocked Morocco, Binance Charity, the philanthropic arm of […]

Latest News

Listen to this article

In response to the recent earthquake that rocked Morocco, Binance Charity, the philanthropic arm of the global cryptocurrency exchange platform Binance, announced on Monday a sizable donation. The charity plans to distribute up to $3 million in its native Binance Coin (BNB) tokens to individuals adversely affected by the catastrophe.

The aid, which translates to $100 in BNB per eligible user, will be directed specifically to residents of the Marrakesh-Safi Province. The determination of beneficiaries will be based on Proof of Address (POA) submissions completed prior to September 9, 2023.

A Step Forward with Crypto Aid

As part of the broader crypto industry’s push to leverage digital assets for rapid and effective disaster response, Binance Charity has also initiated a public donation address. This move facilitates contributions from any individual wishing to extend their support to the earthquake victims in Morocco.

By September 12, 2023, Binance Charity has an ambitious target to assist approximately 70,000 users across Morocco. This venture serves as a testament to the potential of cryptocurrency in fostering immediate and significant relief efforts in times of crisis.

As natural disasters pose challenges for traditional financial systems, the agility and decentralized nature of cryptocurrencies offer a promising alternative. Binance Charity’s prompt response highlights the growing recognition of crypto’s role in global humanitarian efforts.

CZ, founder and CEO of Binance, said “the impact of the earthquake on the Moroccan people is devastating. We hope we can bring some support to those affected. For Moroccan users who receive these donations but are unimpacted by the earthquake, we ask them to pass the funds on to those most in need”.

Read Also:  Cryptocurrency Vs. Fiat Currency: Challenges, Openings and Detailed Analysis

For the latest crypto news today follow the Coinography and Subscribe our YouTube channel or follow us on social media platforms like Twitter, Facebook, Instagram and Linkedin.

You Might Also Like

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

Get Latest Updates

Latest News

Web Stories

Latest News

Would love your thoughts, please comment.x
Scroll to Top
Bitcoin ETFs Surge as Investors Seek Exposure Coinbase, Andreessen Horowitz, and Ripple have joined forces to fund a new crypto DMM Bitcoin Hit by $305M Hack Ripple Releases 1 Billion XRP Tokens What to Expect from Bitcoin’s Price Rally in H2 2024 Trump’s MAGA Coin Soars 7% While Biden Parody Sinks Amid Ex-President’s Trial — NFTs Hold Steady Analyst Warns About Dogecoin Decline CME Denies Solana Futures Plans Amid Growing Rumors Can PEPE flip Polygon? Market cap race heats up! Why Bitcoin Price Is Down Today? Cristiano Ronaldo Launches 4th NFT Collection on Binance Amid $1B Lawsuit Coinbase Alleges SEC Dodging Howey Test in New Appeal Ethereum ETFs Granted Official Approval by SEC Crypto Whale Splurges $10.4 Million on Meme Coin PEPE SOL Price Nearing Support as On-Chain Activity Dips for Solana Penguiana Meme Coin’s Presale Achieves Success, Raising 290 SOL Solana to Bitcoin Bridge, Zeus Network, Set for Debut in Q3 2024 DeFi Lending Leader Aave Unveils V4 Protocol Overhaul MicroStrategy (MSTR) Incurs Losses in Q1 After Digital Asset Impairment Takes Toll Upbit Emerges as Top Five Crypto Exchange, Posing Challenge to Binance, Coinbase