- Binance and KuCoin to Help Victims
- Supporting Victims through Crypto Donations
- Advantages of Crypto Donations in Crisis Situations
The strongest storm to hit Southeast Asia this year moved into Vietnam, and crypto companies have announced token airdrops to help typhoon victims.
Binance and KuCoin to Help Victims
On Sept. 13, the death toll from Typhoon Yagi in Vietnam rose to 254. The state’s disaster management agency reported that over 820 people were injured, and 82 are still missing. To help the typhoon victims, crypto exchanges Binance and KuCoin announced token airdrops to their users in the affected areas. Binance Charity announced a commitment of $1 million in BNB tokens for typhoon victims in Vietnam. Registered users in 25 hardest-hit cities in northern Vietnam will receive $50 in BNB tokens if they completed a proof-of-address (POA) registration before Sept. 10. For those who couldn't complete the POA registration by Sept. 10, Binance Charity will airdrop $20 in BNB tokens, provided they registered on the exchange before Sept. 10 and completed POA by Sept. 30. The first batch of donations will reach the victims on Sept. 16. Crypto exchange KuCoin also announced an airdrop of 10,000 KuCoin (KCS) tokens worth about $80,000. Users in typhoon-affected areas in Vietnam will receive $20 in KCS tokens. The exchange will identify users through its back-end access logs. Vietnamese users who achieved certain levels of KYC verification on the exchange and conducted transactions between Aug. 1 and Sept. 12 will be eligible for the airdrop. Distribution will start on Sept. 18.
Supporting Victims through Crypto Donations
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Advantages of Crypto Donations in Crisis Situations
In 2023, Kim Grauer, Director of Research at Chainalysis, highlighted that cryptocurrency donations offer a fast and efficient way to provide financial aid during crises. She explained that the ability of crypto to facilitate cross-border, instant transactions makes it an ideal tool for raising funds and swiftly delivering them to where they’re needed most.
Crypto donations have become an essential tool for providing assistance in crisis situations due to their speed and global reach. The pledges by Binance and KuCoin to airdrop tokens to typhoon victims in Vietnam showcase the potential of crypto to offer support during challenging times.
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