Binance Charity, the philanthropic arm of leading cryptocurrency exchange Binance, announced it will be airdropping approximately $3 million in BNB to users affected by the recent earthquake disaster in Morocco.
Binance Aids Earthquake Victims in Morocco
According to a recent blog post, the airdrop will be distributed to users based on Proof of Address (POA) completed before September 9. The relief will focus mainly on users residing in Marrakesh-Safi Province, which has suffered the most significant impact from the quake.
Users who meet the criteria before the aforementioned date will each receive $100 in BNB directly in their Binance account. On the other hand, users who fail to meet the deadline but complete the POA between September 9 and September 30 will receive $25 in BNB. Binance is also supporting active transacting users not residing in the affected region. These users will each receive $10 in BNB.
Donations to Reach Over 70K Users
Binance expects the airdrop to reach around 70,000 users in Morocco, with distribution commencing on September 12.
The exchange highlighted how crypto has been playing a crucial role in providing an instant financial lifeline to disaster victims in recent times.
“In the aftermath of natural disasters, people often lose access to traditional banking at the exact moment when extra funds are needed to help cover medical supplies, food and other essential needs. Crypto transfers are now increasingly being used to deliver financial aid to disaster victims as they provide fast, low-cost, borderless and transparent transactions,” Binance said.
Changpeng Zhao (CZ), the co-founder and CEO of Binance, expressed his condolences to the victims of the earthquake.
“The impact of the earthquake on the Moroccan people is devastating. We hope we can bring some support to those affected,” he said.
CZ also urged users who received the airdrop but were not impacted by the quake to pass the funds to those affected.
Meanwhile, Binance Charity has also launched a public donation address for those willing to donate. Funds received via the address will be donated to an authorized NGO to aid disaster victims. Donations will be made in BNB, BTC, ETH, USDC, USDT, or BUSD.
