Binance to 'airdrop' $3mn in crypto for Morocco earthquake victims
What's the story
Binance Charity has announced plans to airdrop up to $3 million in BNB (nearly Rs. 25 crore) to Binance users residing in areas affected by the recent earthquake in Morocco. The initiative aims to provide financial aid to disaster victims, leveraging the speed, low cost, borderless nature, and transparency of cryptocurrency transfers. Approximately 70,000 Binance users in Morocco are expected to benefit from the relief efforts, with disbursements starting today.
Details
Eligibility criteria for BNB relief disbursements
Eligible users must have completed Proof of Address (POA) before September 9, 2023, specifically in the Marrakesh-Safi Province, which was hit hardest by the earthquake. Those who meet the criteria will receive $100 (roughly Rs. 8,300) in BNB directly into their Binance accounts.
What Next?
Additional BNB donations for late POA completion
Binance Charity will also donate $25 (around Rs. 2,100) in BNB directly to the Binance accounts of existing users who complete POA after September 9, 2023, but before September 30, 2023. Active transacting users across Morocco, even those not in the affected region, will receive an airdrop of $10 (around Rs. 830) in BNB each.
Insights
Pass the funds to those most in need: Binance CEO
Binance's founder and CEO, Changpeng Zhao, expressed his concern for the Moroccan earthquake victims and hopes that the donations will provide crucial help to those affected. "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," he urged. A 6.8-magnitude quake struck Morocco late Friday. As of now, at least 2,862 people have died and more than 2,500 are injured.