Over $2 Million in Cryptocurrency Contributions Collected for Turkey following Earthquake
Haluk Levent’s charity organization, Ahbap, is at the forefront of the relief efforts with the successful collection of approximately $2 million in cryptocurrency donations through the Avalanche, BSC, and Ethereum blockchains in just a day.
Additionally, the local exchange, Paribu, is supporting two nonprofits working on the response through its fundraising efforts.
Millions in Cryptocurrency Contributions Go to Earthquake Victims
A catastrophic 7.8 magnitude earthquake hit Turkey, causing over 9,000 fatalities. The cryptocurrency industry steps up to assist in disaster relief with donations, including $5 million from Binance and $1 million from Avalanche.
Cryptocurrency can offer speedier and smoother cross-border transactions, particularly with the use of stablecoins.
This makes it a highly convenient mode of transfer in times of emergency. The cryptocurrency community is known for taking proactive steps to assist individuals globally during crisis situations, such as the recent support shown to earthquake victims in Turkey through millions of dollars in crypto donations.
On Monday, a devastating 7.8 magnitude earthquake struck Turkey, resulting in over 9,000 fatalities. This makes it one of the deadliest earthquakes since the Fukushima disaster in 2011.
A large number of individuals have also been injured and left homeless.