Binance’s charitable arm will donate up to $3 million worth of BNB tokens to exchange users located in earthquake areas in Morocco.
Local residents will be identified using Proof-of-Address.
Clients from the province of Marrakesh-Safi, which was hit the hardest, will receive $100 in cryptocurrency if they complete the verification procedure before September 9. Those who confirm their place of residence after the designated date will receive a reward of $25.
The platform is offering $10 to active Moroccan users who are not in the affected area.
“We expect our efforts to reach approximately 70,000 Moroccan Binance users. Funds will be available to our clients starting September 12, 2023,” representatives of the crypto exchange said.
Binance CEO Changpeng Zhao expressed support for local residents and promised to provide all possible assistance to the victims.
Binance Charity has also launched an address for donations to Moroccan citizens. The company will donate the collected funds to a non-profit charitable organization.
Recall that in November 2022, Binance launched a fund in order to reduce the “cascading negative impact” of the FTX collapse on the industry. The trading platform contributed $1 billion in his favor and announced its intention to increase this amount to $2 billion.
Later, 14 projects received support under the program.
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