Binance donates $3M BNB to Morocco

Binance pledges significant donation to earthquake-stricken Morocco, offering financial aid through BNB airdrops. Speedy and transparent relief efforts.

Sep 12, 2023 - 15:30
Oct 19, 2023 - 14:23
Binance donates $3M BNB to Morocco
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Binance, a leading crypto exchange, has recently taken a commendable step by pledging a significant donation to Morocco, a nation reeling from a devastating earthquake. 

On September 8, Morocco experienced a major earthquake, resulting in significant damage and loss of life, especially in Marrakech, the country's fourth-largest city. Responding to this tragedy, Binance announced its plan to airdrop up to $3 million in BNB to its users residing in the affected areas.

The identification process for eligible recipients is based on the Proof of Address (POA) protocol. Users in the Marrakech-Safi province, the hardest-hit region, who completed their POA before September 9, 2023, will receive $100 worth of BNB directly into their Binance accounts. Recognizing that many might not have completed their POA by this date, Binance has extended the offer: users who finalize their POA between September 9 and September 30 will receive a donation of $25 in BNB. Additionally, active users transacting in Morocco, outside the primary affected area, are set to receive an airdrop of $10 in BNB.

Natural calamities often disrupt traditional banking mechanisms, precisely when funds are most needed for essentials like medical supplies and sustenance. Cryptocurrencies, with their speed, cost-effectiveness, and borderless nature, are emerging as a preferred medium for delivering financial aid in such scenarios. Their transparent nature ensures that aid reaches the intended recipients without undue delays or bureaucratic hurdles.

Binance's CEO, Changpeng Zhao (often referred to as CZ), expressed deep concern for the Moroccan populace impacted by the earthquake. He voiced hope that the BNB donations would offer tangible support to those in dire need. Emphasizing the spirit of community, CZ urged recipients unaffected by the earthquake to redirect the funds to those facing the brunt of the disaster. CZ stated:

“We expect our efforts will reach around 70,000 Binance users living in Morocco. Our funds will reach our users starting 12th September, 2023.”

Beyond the direct airdrop, Binance Charity has established a public donation address, inviting contributions from the global community. This initiative allows individuals worldwide to contribute and support the relief efforts in Morocco. Donations are accepted in various cryptocurrencies, including BNB, BTC, ETH, USDC, USDT, and BUSD. All contributions will be channeled to support an authorized NGO, which will be named at a later date, ensuring that the aid reaches those genuinely in need.

Philip Bohmer Philip is a seasoned journalist that brings clarity to the complex world of cryptocurrencies through his articulate and insightful articles. His passion for blockchain technology fuels his writing, making him a trusted voice in the rapidly evolving digital currency landscape.