Binance Charity, in response to the recent devastating earthquake in Morocco, has announced that it will distribute up to $3 million in BNB to Binance users residing in the affected areas. This initiative aims to provide financial assistance to those impacted by the tragedy.
The identification process for eligible users will primarily rely on the completion of Proof of Address (POA) documents before September 9, 2023, specifically in the Marrakesh-Safi Province, which suffered a significant impact. Binance will award each user who fulfilled the POA requirement in this area with $100 worth of BNB, directly deposited into their Binance accounts.
Recognizing that not all affected users may have completed the POA, Binance has extended its support. Any existing user who completes the POA between September 9 and September 30, 2023, will receive a donation of $25 in BNB, also deposited directly into their Binance accounts.
Additionally, Binance will airdrop $10 in BNB to its active transacting users throughout Morocco who are not in the affected area.
Binance estimates that approximately 70,000 of its users in Morocco will benefit from these initiatives. The funds will start reaching the users from September 12, 2023.
In times of natural disasters, people often lose access to traditional banking systems precisely when they need additional funds for medical supplies, food, and other essentials. This is where cryptocurrencies are increasingly becoming a reliable means of delivering financial aid to disaster victims, due to their fast, low-cost, borderless, and transparent nature.
Binance’s founder and CEO, CZ, expressed his concerns over the devastating impact of the earthquake on the Moroccan people. He hopes that Binance’s support will provide relief to those affected. CZ also encourages Moroccan users who receive these donations but remain unimpacted by the earthquake to pass the funds on to those in dire need.
To facilitate public donations, Binance Charity has established a public donation address. All funds received at this address will be donated to an authorized non-governmental organization (NGO) to further assist those in need. Donations in BNB, BTC, ETH, USDC, USDT, or BUSD are accepted.
Binance is committed to standing by its users during these difficult times. The organization will continue exploring additional ways to help the Moroccan community, providing support and aid where it is needed most.
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