Crypto Exchanges Join Forces To Provide Aid To Turkey After Devastating Earthquakes

Zinger Key Points
  • Crypto exchanges pledge support with financial commitments.
  • Turkish authorities are urged to establish official crypto wallets for aid purposes.

With the recent earthquakes in Turkey having a devastating impact on the region, claiming thousands of lives and leaving many more people in need of aid and support, the global cryptocurrency community has stepped up to offer its support, with many local and international crypto exchanges pledging to provide assistance.

Crypto exchanges such as Binance, Bitfinex and are among the platforms that have offered to help.

These exchanges are actively exploring ways to send aid through digital assets, with some, such as BitGet, having already made significant financial commitments.

This is not the first time that the crypto community has rallied to support those in need.

During the Russian invasion of Ukraine and the COVID-19 outbreak in India, millions of dollars in crypto donations were made to support relief efforts.

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However, making crypto donations can sometimes be more complicated than traditional payment methods, especially in jurisdictions where cryptocurrency is in a regulatory grey area.

To address this, the blockchain industry and research bodies in Turkey have come together to create a petition calling on authorities to allow crypto-based donations to be accepted.

The petition, signed by more than 40 entities, requested Turkish authorities establish official crypto wallets to ensure that donations are directed to the right place and to avoid malicious aid schemes.

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Photo: BearFotos via Shutterstock

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Posted In: CryptocurrencyNewsGlobalMarketsBinanceBitfinexBitGetCovid-19EarthquakeEarthquake in TurkeyGate.ioIndianatural disasterTurkeyUkraine
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