September 13, 2023

Binance Announces Aid Worth of $3 Mln in BNB for Morocco’s Earthquake Victims

Morocco's Earthquake

Morocco’s Earthquake

Recently, Binance, the leading cryptocurrency exchange, has announced that it will extend its help to the victims of the massive earthquake that hit Morocco on September 8.

The earthquake caused over 2,000 fatalities in Marrakech, the fourth-largest city in Morocco. Binance has pledged to donate millions of dollars in BNB as aid relief to the affected people. As per the announcement made on September 11, Binance will airdrop up to $3 million in BNB to users residing in the affected areas. The earthquake was of magnitude seven on the Richter scale, which indicates it was “major.”

Changpeng Zhao, the founder and CEO of Binance, expressed his condolences and sympathy towards the Moroccan people, calling the earthquake “devastating.”

He also called on unaffected users to distribute funds to those in need., saying: “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.”

Binance noted that it will use a proof-of-address protocol to identify users residing in the Marrakech-Safi province, which suffered the most damage from the disaster. These users will receive $100 worth of BNB directly into their Binance accounts.

For Moroccan users living outside this area, Binance will provide $10 in BNB each through an airdrop. The aid program is expected to benefit almost 70,000 Binance users in the country starting September 12.

To provide additional aid, Binance has also created a public wallet address that accepts contributions in various cryptocurrencies, including BNB, Bitcoin, Ether, USD Coin, Tether, and Binance USDC.

This is not the first time Binance has launched such an aid program. In March, the company provided $100 worth of BNB tokens to support those affected by intense earthquakes in the Turkey-Syria border region. Cryptocurrency has become increasingly popular for providing disaster relief and charitable donations.

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