Binance Pledges $3M BNB in Morocco Earthquake Relief Efforts

Survivors of the earthquake in Morocco are welcome to claim a voucher from Binance Charity.

Changpeng Zhao's face appeares on the smoke in the background looking at the devastation of the Morocco earthquace.
Created by Gabor Kovacs from DailyCoin
  • The Marrakech-Safi Province has suffered Morocco’s biggest earthquake in over a century.
  • Binance sets up a relief fund in BNB to be processed by Proof of Address (POA).
  • All Moroccan residents are eligible for the $BNB airdrop totaling $3 million.

Crypto giant Binance is responding financially to the devastation caused by the massive earthquake in Morocco as rescuers and medical teams fight against the clock. Binance’s $3 million fund will act accordingly with the Proof of Address (POA) submitted by users before September 9, 2023.

Who’s Eligible for Morocco Earthquake Relief Fund?

Binance has also launched its Morocco Earthquake Emergency Appeal to tackle the humanitarian crisis in Marrakech-Safi Province. The fundraiser has raised $1,241.31 of its goal of $99,976.27 thus far. The appeal accepts Bitcoin (BTC), Ethereum (ETH), BNB (BNB), and popular stablecoins.

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Affected users who have their Know Your Customer (KYC) approved on Binance before September 9 will have access to the funds. This KYC includes Proof of Address, which is only available to residents of the Marrakesh-Safi Province area.

Additionally, $10 BNB vouchers will be airdropped to Moroccan people outside the most severely affected region, where local survivors are still fleeing their destroyed villages.

Following the initiative from Binance Charity, the company’s CEO Changpeng ‘CZ’ Zhao posted a supportive message to the Moroccan people on Twitter and received a warm response. “We should be able to reach 70,000 people or so, based on initial data,” calculates CZ, developing a second relief scheme this year.

On the Flipside

  • Trading at $212.22, the globally leading crypto exchange’s native coin, $BNB, recently hit another yearly low after bouncing back from the bottom, seen on August 21, 2023. $BNB withstood the resistance at $210 for the bulls to regain control with 2.6% daily gains.

Why This Matters

Cryptocurrency is used to aid afflicted communities worldwide, as seen in the Turkish-Syrian earthquake and Russia’s military invasion of Ukraine.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.