KEY FACT: Cryptocurrency exchanges, Binance and KuCoin have announced their efforts to alleviate the sufferings of the Typhoon-affected regions in Vietnam through token airdrops. Binance will distribute $1 million in BNB tokens to users in 25 cities, offering $50 to verified accounts and $20 to others. KuCoin will donate $80,000 worth of KCS tokens to impacted users based on transaction activity.
Logo Sources: Binance, KuCoin
Binance and KuCoin Launch Crypto Airdrops to support Vietnam
Major cryptocurrency platforms, Binance and KuCoin have announced their efforts to alleviate the sufferings of the Typhoon-affected regions in Vietnam through token airdrops. This is in response to the devastation caused by Typhoon Yagi in Vietnam. This initiative shows how cryptocurrency can provide rapid financial assistance and relief during emergencies.
The typhoon severely affected coastal regions, and brought widespread damage to infrastructure, homes, and livelihoods, leaving thousands of residents without essential resources. As at September 13, 2024, the death toll from the Typhoon-ravaged Yagi in Vietnam had reportedly rose above 250. The state’s disaster management agency also added that over 820 people were injured, while 82 are still missing.
Binance has pledged to distribute $1 million in BNB tokens to users in 25 cities, offering $50 to verified accounts and $20 to others. KuCoin will donate 10,000 KuCoin tokens, worth about $80,000 to impacted users based on transaction activity. The crypto exchange said that users in typhoon-affected areas in Vietnam will receive $20 in KCS tokens. Binance will start sending tokens on September 16, while KuCoin will start delivering their token donations on September 18.
It's pathetic the natural disaster in Vietnam but it is soothing how cryptocurrency has become a tool to ease the victim's pains and troubles. It is important to note that in cases like this, traditional relief efforts though essential, often face logistical hurdles, including time delays, distribution bottlenecks, and costs associated with converting donations into local currencies. However, with blockchain technology, funds can be instantly transferred to recipients, ensuring immediate access to much-needed financial support.
It is impressive how crypto support is making headlines not to sponsor terrorism or anti-government activities, but to help humanity in dire need. This and many more cases has proven that cryptocurrency donations offer a fast and efficient way to provide financial aid during emergencies or crises.
Moreover, crypto can facilitate instant and cross-border transactions which makes it an ideal tool for raising funds and swiftly delivering them to where they are needed most. Amazing times are ahead with crypto financing.
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