Earthquake Hit Turkey Gets Support From Cryptocurrency Exchanges, Crypto Communities Step Up

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A few days back, Turkey and its surrounding region were destroyed by a deadly earthquake. The entire country is currently in a state of emergency and it will remain that way for the next three months.

Given the amount of destruction Turkey and the entire region have suffered, the country could use all the help it could get.

Thousands of buildings in Turkey were stretched to the ground and there are still people stuck under the crashed buildings. The rescue missions are still ongoing and people are praying that their loved ones get saved safe and sound.

So far, more than 19,000 deaths have been confirmed from the deadly earthquake in the entire region. Most of the deaths have been reported in the Turkish region and the death toll is constantly rising.

The country that has been facing several financial losses and crises has met yet another crisis. Turkey is in a state of emergency for the next three months and it needs all the financial help it can get.

Crypto Industry is Stepped Up to Help

This is when the cryptocurrency trading industry has taken a step to support Turkey and the entire region through its capabilities.

They have become very active right after they heard about the earthquake that took the lives of many. In the past few years, the inflation rate in the country has continued to rise.

The value of the Turkish lira has continued declining against the dollar as well. Despite the downfalls, the country never gave up and kept its head high.

It started exploring the cryptocurrency sector and in a matter of few years, it has become a very friendly state towards cryptocurrencies.

It has earned itself the title of being one of the friendliest countries in the cryptocurrency industry. Throughout the course, Turkey has helped the cryptocurrency industry, mainly the crypto trading and exchange platforms.

Now, it is the turn of the digital asset exchanges and the entire crypto market to stand up united in support of Turkey.

They are determined to help their fellow traders in Turkey, their loved ones, relatives, and even their neighbors who need support and help.

Binance’s Announcement for Turkish Users

Binance, which has a strong following in Turkey as well, has made an announcement pertaining to supporting the victims.

The exchange announced on Tuesday that it is going to airdrop $100 worth of BNB tokens for all the users based in Turkey. Each user will have the opportunity to receive the $100 worth of BNB via the airdrop.

They have made the same announcement for the users being impacted by the earthquake while living in the same region.

The exchange officials have confirmed that it will be verifying the identities and the locations of the impacted users based on their proof of address.

Once verified, it will airdrop the $100 worth of BNB to the particular users. In addition to that, Binance has announced that it will be donating almost $5 million to the people impacted by the earthquake.

Binance officials revealed that they have recorded a significant surge in funds being transferred to the Turkish region. They are seeing multiple users transferring funds to help the victims of the earthquake in the region.

The exchange stated that they are glad for being able to offer their users transparent and fast transactions. These transactions do not incur high fees but are processed at very low costs.

Binance further announced that they are open to receiving donations for earthquake victims in Turkey.

They asked users to donate as many cryptos as possible so they can be converted to lira and then sent over to an authentic and credible NGO.

Other major exchanges such as Bybit, OKX, Huobi, Bitmex, Coinex, Bitfinex, and many more have also shared their condolences for the Turkish earthquake.

They have also stepped up to help the people in need in Turkey. Each platform is playing its own role in donating and collecting donations for the needy in Turkey and the region.

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