Web3 Community Has Donated Around $10M In Crypto To Turkey And Syria

After a series of devastating earthquakes, millions of dollars were donated to Turkey in cryptocurrency. Binance, Tether, OKX, Kucoin, Bitfinex, Visualize Value, and others have donated nearly $10 million to help the victims of the earthquakes in Turkey and Syria that occurred Monday morning.

The number of people who have died is increasing, and over 7,000 have been injured. This shows that the crypto community is ready to assist with humanitarian efforts.

The Avalanche Foundation donated $1 million in AVAX tokens to raise funds.

Aytunc Yuldzl, Executive Director of Avalanche, stated that Turkey is close to their hearts and will be helped by the funds. “It’s time to unite and show that crypto can be a force for good and a sign of hope for all.”

“The devastating effects of the recent earthquakes in Turkey on so many people and their communities have been very severe. We hope our efforts will provide some relief for those affected. “We are asking our industry peers once more to come together to support us in times of crisis,” Changpeng Zhao, Binance’s CEO, stated.

Zhao further tweeted: “It is time to take care of our users.” He added that the cryptocurrency exchange would offer $5 million BNB for users in the region.

Following the earthquake and the tragic number of deaths, Bitfinex, Keet, Synonym, and Tether promised to donate 5 Million Turkish Lira.

Gate.io, a cryptocurrency exchange, pledged 1,000,000 Turkish Lira to support earthquake recovery in Turkey. Gate.io has partnered with Gate NFT to launch ERD and raise additional donations.

Tether stated in a press release that the disaster was severe and large. “Turkey and everyone who has been hurt is in our thoughts and prayers.”

Justin Sun, the creator of Tron, donated $1 million in TRX to Huobi Global to help victims of disasters.

In the last 48 hours, multiple DAOs were formed to support humanitarian efforts. This is similar to what happened in Ukraine’s DAO last year. Some may be frauds, just like other times when money was needed quickly after a major tragedy. These groups must be investigated to help the poor. Endaoment and The Giving Block allow people to give cryptocurrency to charity.

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