Millions in crypto flow to Turkey and Syria, following devastating earthquakes.
Ready for some warm n' fuzzies (amidst a some pretty grim circumstances)?
Millions in crypto donations have been sent to aid the victims of the massive earthquakes that hit Turkey and Syria early Monday morning.
Binance, Tether, Bitfinex, OKX, and Kucoin have already pledged over $9M in donations, to aid the 20,000+ that were injured in the 7.5 magnitude earthquake.
So why does crypto keep popping up in response to global events like this, and the Ukraine war?
A few obvious reasons:
People naturally want to help out where they can.
The crypto community is home to many high net worth individuals.
Outside of that?
It's probably because blockchain transactions are particularly well suited to situations like this.
Charities, governments, and individuals can spin up wallet addresses in a matter of minutes - post the addresses on social media, and receive donations (both large and small), in seconds.
(All while paying transaction fees that are a fraction of what a bank would charge).
It's a great tool to have at hand.
