1. Crypto Airdrops by Binance and KuCoin
2. Integration of Digital Assets into Philanthropy
3. Examples of Successful Crypto-Related Initiatives

As the devastating Typhoon Yagi continues to wreak havoc in Vietnam, with the death toll surpassing 250 and countless others affected, crypto exchanges Binance and KuCoin have announced their commitment to providing relief efforts through token airdrops.

Crypto Airdrops by Binance and KuCoin

Binance’s charity arm committed $1 million in BNB tokens to support typhoon victims. According to Binance, users who are registered in the 25 hardest-hit cities in northern Vietnam will receive $50 in BNB tokens, provided they complete proof-of-address (POA) registration before Sept. 10. For those unable to complete the POA before that date, Binance Charity will distribute $20 in BNB tokens to accounts registered before Sept. 10, with POA completion required by Sept. 30. The first round of donations is scheduled for Sept. 16. Similarly, KuCoin has pledged to airdrop 10,000 KCS tokens (worth approximately $80,000) to Typhoon victims. Vietnamese users who met certain Know Your Customer (KYC) verification levels and transacted between Aug. 1 and Sept. 12 will receive $20 in KCS tokens. KuCoin will begin distributing donations on Sept. 18.

Integration of Digital Assets into Philanthropy

Crypto philanthropy increased significantly in 2021, reaching more than $500 million in the United States alone. A shift in donor preferences and nonprofit adoption is supporting the trend. Donor behaviour is changing as cryptocurrency has proven to be a crucial tool for delivering swift aid during a crisis. For example, crypto donations poured in rapidly during the war in Ukraine, providing significant support. By March 28, 2022—just over a month into the conflict—more than $56 million worth of digital assets had been donated to government-provided addresses and charitable organizations accepting crypto. This same potential for fast relief is evident in the response to the earthquakes in Turkey and Syria.

Examples of Successful Crypto-Related Initiatives

The Baby Doge team has contributed over $500,000 to support animal shelters and welfare programs globally. In line with their commitment to charity, Baby Doge is launching an API to simplify crypto donations from their community, making giving back an integral part of their mission. They’ve also set a Guinness World Record for the most pet food donated within 24 hours.

Binance and KuCoin’s initiatives to provide token airdrops demonstrate the capacity of crypto platforms to offer swift and effective assistance in crisis situations. Crypto donations are proving to be a vital tool in supporting affected communities.