Cryptocurrency exchange giant Binance has announced a philanthropic effort to aid those affected by the devastating earthquake that struck Morocco on September 8. Binance is set to distribute a total of $3 million worth of Binance Coin (BNB) tokens to users residing in areas impacted by the natural disaster.
To provide swift assistance, Binance has structured the relief in two tiers. Users who had completed the verification of their address details by September 9, demonstrating that they live in the Marrakesh-Safi province, will each receive $100 worth of BNB tokens. Meanwhile, individuals who fulfill the verification process after this date will receive $25 worth of BNB.
The airdrop initiative is expected to benefit approximately 70,000 people who were affected by the earthquake, offering them support during this challenging time. Binance has confirmed that the distribution of funds to users’ accounts will commence immediately.
The earthquake, one of the most powerful to strike Morocco in over six decades, has tragically claimed the lives of more than 2,800 people. In the wake of this humanitarian crisis, Binance’s relief efforts aim to alleviate the suffering of those affected and contribute to the recovery process.
BNB, the native cryptocurrency of Binance, plays a central role in powering the BNB Chain ecosystem. Despite the recent humanitarian gesture, BNB’s market value has experienced little change over the past 24 hours, trading at approximately $209, according to data from CoinGecko.
Binance’s commitment to providing aid in the form of cryptocurrency highlights the growing role of digital assets in supporting disaster relief efforts worldwide. The exchange’s initiative demonstrates how blockchain and cryptocurrency technologies can be harnessed to provide rapid and transparent assistance to those in need during times of crisis.