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Binance will start sending tokens on Sept. 16, while KuCoin will start delivering their token donations on Sept. 18.
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As the strongest storm to hit Southeast Asia this year moves into Vietnam, crypto companies have pledged to airdrop tokens to help the typhoon victims.
On Sept. 13, the death toll from Typhoon Yagi in Vietnam reportedly rose above 250. The state’s disaster management agency said that there are over 820 people were injured, and 82 are still missing.
Source: UNICEF Vietnam
To help the typhoon victims, crypto exchanges Binance and KuCoin have announced that they will airdrop crypto tokens to their users in the affected areas.
Binance, KuCoin pledge tokens for affected users
In an announcement sent to Cointelegraph, Binance’s charity arm said it’s committing $1 million in BNB (BNB) tokens for typhoon victims in Vietnam.
According to Binance, registered users will receive the tokens in the areas affected by the incident. Those identified as living in 25 cities in northern Vietnam that were most affected by the typhoon will receive $50 in BNB tokens if they have completed a proof-of-address (POA) registration before Sept. 10.
For those unable to complete the POA registration before Sept. 10, Binance Charity said they will airdrop $20 in BNB tokens to their accounts. The conditions include registering on the exchange before Sept. 10 and completing the POA until Sept. 30.
Binance said the first batch of donations will reach the victims on Sept. 16.
Related: Over half of U.S. charities now accept cryptocurrency donations
Apart from Binance, crypto exchange KuCoin announced it would airdrop 10,000 KuCoin (KCS) tokens, worth about $80,000, to typhoon victims. The crypto exchange said that users in typhoon-affected areas in Vietnam will receive $20 in KCS tokens
The exchange said it will identify users through their back-end access logs. According to KuCoin, Vietnamese users who achieved certain levels of Know Your Customer (KYC) verification in the exchange and conducted transactions between Aug. 1 and Sept. 12 will be eligible for the airdrop.
KuCoin said that it will start distributing the donations on Sept. 18.
Crypto donations provide quick support in times of crisis
In 2023, Kim Grauer, Director of Research at Chainalysis, highlighted that cryptocurrency donations offer a fast and efficient way to provide financial aid during crises.
She explained that the ability of crypto to facilitate cross-border, instant transactions makes it an ideal tool for raising funds and swiftly delivering them to where they’re needed most.
Magazine: ‘Crypto is inevitable’ so we went ‘all in’ — Meet Vance Spencer, permabull
This article first appeared at Cointelegraph.com News
