The strongest storm to hit Southeast Asia this year has moved into Vietnam, causing catastrophic damage. As a result, cryptocurrency companies have pledged to Airdrop Token to help victims.
The death toll from Typhoon Yagi in Vietnam rose above 250 on September 13. The disaster management agency said more than 820 people were injured and 82 people were still missing.
To help the victims, exchanges Binance and Kucoin have announced that they will Airdrop cryptocurrencies to their users in affected regions.
In an announcement, Binance’s charity arm said it is committing $1 million in BNB Token to typhoon victims in Vietnam.
According to Binance, registered users will receive Token in affected areas. Those identified as living in the 25 most affected cities in northern Vietnam will receive $50 in BNB Token if they have completed proof of address (POA) registration by September 10.
For those who are unable to complete their POA registration by September 10, Binance Charity will Airdrop $20 worth of BNB Token into their accounts. The conditions include registering on the exchange before September 10 and completing the POA by September 30.
According to Binance, the first batch of donations will reach victims on September 16.
In addition to Binance, the Kucoin exchange has announced that it will Airdrop 10,000 Kucoin Token , worth about $80,000, to victims of the storm. The exchange highlighted that users in storm-affected areas in Vietnam will receive $20 in KCS Token .
The exchange will identify users through their back-end access logs. According to Kucoin, Vietnamese users who achieve certain levels of identity verification (KYC) on the exchange and make transactions between August 1 and September 12 will be eligible to participate in the Airdrop.
Kucoin said it will start distributing donations on September 18.
In 2023, Kim Grauer, research director at Chainalysis, highlighted that cryptocurrency donations offer a quick and efficient way to provide financial support during times of crisis.
She explained that cryptocurrency's ability to facilitate instant cross-border transactions makes it an ideal tool for raising Capital and quickly moving it to where it is needed most.
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Dinh Dinh
According to Cointelegraph
