Binance Announces $3 Million BNB Donation to Aid Moroccan Earthquake Victims

Binance Announces $3 Million BNB Donation to Aid Moroccan Earthquake Victims

Providing Relief

The earthquake, which occurred on a Friday night, registered a magnitude of 6.8 and was centered in the High Atlas Mountains near Marrakech. As of the latest update, the death toll has climbed to nearly 3,000 people.

In light of the profound impact of this natural disaster, the CEO of Binance took to X (formerly known as Twitter) to express condolences to the people of Morocco. He also emphasized his company’s commitment to donate $3,000,000 to Binance users facing hardship as a result of the earthquake.

To qualify for this support, Moroccan users must have completed their proof-of-address (POA) verification before September 9 and be located in the province of Marrakesh-Safi, which is reported to have experienced the most significant impact. These eligible users will receive $100 in BNB directly deposited into their Binance accounts.

For users who haven’t completed their POA verification, there is still an opportunity. If they provide the required information between September 9 and 30, they will receive $25 in BNB credited to their Binance accounts. Additionally, active transacting users will still receive $10 through the airdrop.

It is estimated that these relief efforts will benefit approximately 70,000 Binance users residing in the affected region. The funds will be made available to users starting from September 12.

Providing Global Support

Despite facing legal challenges in various European countries and an ongoing legal battle with the SEC in the United States, Binance remains committed to its charitable initiatives.

Binance Charity, while primarily focused on web3 education, has a history of providing substantial material support. This includes the launch of the Lunch for Children program in Uganda in 2019, a $1 million donation to assist flood victims in Japan, and a $5 million contribution to a COVID-19 relief campaign in March 2020.