Binance Charity, a branch of the world’s largest exchange, Binance, has pledged to distribute $3 million to residents of the regions affected by the recent earthquake in Morocco.
Recall that Morocco faced a deadly 6.8 magnitude earthquake on September 8, with the current death toll exceeding 2,000 people as of press time. Reports suggest this was the country’s deadliest earthquake in a hundred years.
Binance Charity announced its commitment to the affected regions yesterday. Their goal is to strengthen underprivileged communities, enhance transparency in charity work, and positively influence society.
The platform will use the Proof of Address (POA) validation to determine eligible beneficiaries. The validation process must have been finalized before September 9, specifically within the Marrakesh-Safi Province.
Only Binance users who have successfully concluded the POA procedure in the Marrakesh-Safi Province on or before the mentioned date will receive a direct allocation of $100 in BNB, deposited directly into their Binance accounts.
Notably, Binance acknowledges that not all residents in the affected region may have had the opportunity to complete the POA process within the stipulated time frame.
As a result, any existing users who complete the POA validation between September 9 and September 30 will also receive a philanthropic contribution of $25 in BNB tokens, which will go directly to their Binance accounts.
Additionally, as a gesture of support, Binance will distribute $10 in BNB through an airdrop to active transacting Binance users. This will be throughout Morocco, including unaffected regions.
Binance’s efforts are expected to benefit roughly 70,000 Binance users who reside in Morocco. These funds will be distributed to all users on September 12.
Binance Charity’s Impactful Philanthropic Ventures
Binance Charity has orchestrated several impactful initiatives, leveraging blockchain technology to make a meaningful difference in communities across the globe.
Among these projects is “Empower Bududa,” where the organization supports empowering and uplifting the Bududa community, fostering positive change in the region.
Additionally, Binance Charity runs the “Binance Lunch for Children” initiative, ensuring that vulnerable children receive nutritious meals, addressing a fundamental need for their well-being.
In times of natural disasters like earthquakes that hit the south of Turkey and Syria, Binance Charity stepped in with their “Earthquake Appeal: Rebuilding & Recovery” project, actively participating in recovery and reconstruction efforts.
Moreover, Binance Charity offers a unique platform through the “Binance Charity Wallet,” possibly enabling cryptocurrency donations, making charitable contributions more accessible and transparent.