Key Points:
- Binance Charity pledges $3 million in BNB for Moroccan earthquake victims.
- Airdropped funds target 70,000 users with different eligibility criteria for POA.
- Binance also opens public crypto donation addresses for further disaster relief.
In the wake of a disastrous earthquake that has struck the Marrakesh-Safi Province of Morocco, Binance Charity is mobilizing resources to aid affected residents. The philanthropic arm of the leading cryptocurrency exchange, Binance, has pledged to airdrop $3 million in Binance Coin (BNB) directly to the Binance accounts of those living in the disaster-stricken region.
Binance Sets Guidelines for $3 Million Aid
The distribution of funds aims to assist approximately 70,000 Binance users in Morocco. Furthermore, it focuses primarily on those in the worst-hit area of Marrakesh-Safi Province. Residents who had previously completed their Proof of Address (POA) requirements by the 9th of September, 2023, will receive $100 in BNB to alleviate immediate needs like medical supplies, food, and essential utilities.
Not all users may have completed the POA by the specified date, so Binance has extended an additional offer. Users in the affected zone who fulfill the POA criteria between September 10 and September 30, 2023, will receive a direct deposit of $25 in BNB. Moreover, active transacting Binance users in other parts of Morocco, not directly impacted by the natural disaster, are set to receive a smaller airdrop of $10 in BNB.
Binance CEO Changpeng Zhao (CZ) expressed his sorrow regarding the catastrophe. “The impact of the earthquake on the Moroccan people is devastating. We hope our aid will bring some comfort to those suffering. For those who receive the aid but are not directly impacted, we urge them to forward the funds to those who truly need it.”
Binance Charity’s Public Fundraising Efforts Extend Beyond Airdrop
Apart from the airdrop, Binance Charity has initiated a public fund collection through a dedicated donation address. The collected amount, accepted in various cryptocurrencies, including BNB, BTC, ETH, USDC, USDT, and BUSD, will be forwarded to an as-yet-unnamed authorized NGO working on ground relief operations.
By resorting to cryptocurrency for disaster relief, Binance has highlighted digital assets’ flexibility, speed, and transparency, especially when traditional banking infrastructures may be crippled. It’s an example of how cryptocurrency can effectively serve as a lifeline in critical situations, facilitating immediate financial support.
As Morocco grapples with the repercussions of this natural disaster, Binance Charity stands in solidarity, committed to finding additional avenues to assist the community in recovery.
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