Crypto community sends millions in digital assets to Turkey following the earthquakes

Updated: 08 February 2023

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The last few days have been marked by reports of massive earthquakes in Turkey and Syria which resulted in thousands of casualties, with some predicting that the death toll will continue to increase. While there is no way to make up for the tremendous loss of life, the survivors of the catastrophe can still use any help that they can get.

This is why the crypto community — including several major crypto companies — banded together to create and fill Turkey’s earthquake relief fund. So far, some of the leading names in crypto, including Binance, Bitfinex, KuCoin, OKX, and Tether, have pledged over $9 million in donations to help the earthquake victims.

Crypto donations to Turkey's earthquake relief efforts now amass $2m, only a few hours after the wallets were set up https://t.co/rLKbAwTvld pic.twitter.com/bkMMLWnxrU

— ekin (@eking0x) February 7, 2023

According to the most recent reports, the number of casualties is still growing, currently with over 7,000 killed and more than 20,000 injured. The crypto community did not waste time, and it stepped up to support the humanitarian efforts.

Apart from the initial responders mentioned above, Avalanche Fundation also joined the fundraising efforts by donating another $1 million in AVAX tokens, inviting others to donate what they can.

The Avalanche Foundation has donated $1M in AVAX to the disaster relief efforts, organized by @haluklevent, for the earthquake that has affected Turkey and Syria. We encourage others to join the effort. https://t.co/Inr7oLX28q

— Avalanche 🔺 (@avax) February 7, 2023

The project’s executive director, Aytunc Yıldızlı, said that Turkey is close to the heart of the Avalanche Foundation and community, and the funds will help people recover faster in the wake of this tragedy.” He noted that this is the time for the crypto world to come together and show everyone that it is a force for good and a sign of hope.

The list of executives willing to help grows

Binance’s CEO, Changpeng Zhao, also commented on the situation, stating that the earthquakes have had a devastating effect on countless people and communities and that the crypto industry hopes that its efforts will bring some relief to those who were affected. He also tweeted that it is “Time to take care of our users,” adding that Binance plans to airdrop $100 in BNB to users in the region, totaling in $5 million.

Tether published a press release after the news of the earthquake, stating that the scale of the disaster is widespread and catastrophic. The company, alongside Bitfinex, Keet, Synonym, and others, pledged 5 million Turkish lira, or around $266,000 to the earthquake recovery effort.

Tron founder Justin Sun also added his name to the growing list of crypto executives who donated to the disaster relief, pledging $1 million in TRX from Huobi Global.

The effort comes almost exactly one year after the war in Ukraine broke out, when the crypto community poured millions in donations to support the Ukraine government in what was dubbed “the world’s first crypto war.” At the time, a number of DAOs dedicated to helping Ukraine emerged, and in the last 48 hours, the same happened in order to assist the people of Turkey and Syria.

Even so, users are advised to be careful in order to avoid potential scammers who might use this situation to collect money from well-meaning individuals only to steal it for themselves.

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