bitcoin
Dina Mustafa
Earthquakes wreaked havoc in Syria and Turkey earlier this week, leading to a humanitarian and infrastructure crisis in the earthquake-affected areas, as crypto firms such as Binance, KuCoin, OKX and Bitfinex gathered to provide immediate financial assistance to the victims of the natural disaster.
Together, the companies have pledged $9 million in emergency funds directed towards Syria and Turkey, and the Avalanche Foundation has donated $1 million as part of relief measures, gadgets360 reports.
Cryptocurrency exchange BitMEX has decided to contribute the proceeds from its recently held trading competition to the Turkish Red Crescent Organization.
Haluk Levent, meanwhile, has teamed up with charitable organization Ahbap to create a multi-signature wallet to accept crypto donations to fund relief for affected areas. The wallet is built on the BNB blockchain, and The Block reports that Levent digital wallet has already raised $170,000 in Binance USD stablecoins.
A strong earthquake measuring 7.5 on the Richter scale struck Turkey on February 6, affecting many regions including Cyprus, Jordan, Lebanon, Iraq and Syria. Turkey and Syria emerged as the most affected regions.
Videos of buildings collapsing in the blink of an eye during the quake have surfaced on social media, and the death toll from the quake has reportedly surpassed 7,800 as of Wednesday.
