Multiple crypto exchanges have already begun preparing assistance packages for individuals impacted by a severe earthquake that has killed over 1,700 people and levelled portions of Turkey and Syria.
Monday, February 6, a magnitude 7.8 earthquake shook the Kahramanmaras Province of Turkey, which was followed by a magnitude 7.5 quake around midday and hundreds of minor tremors that were felt throughout the two neighbouring nations and beyond.
Multiple crypto trading companies, including Gate.io, Binance, Bitfinex, Bitget, Bybit, and BitMEX, have offered similar relief measures.
Indeed, according to Gate.io’s Twitter account, the platform has “begun preparing humanitarian packages for individuals affected by the earthquake in Turkey” and “will send them in conjunction with the authorities,” while Binance CEO Changpeng Zhao expressed solidarity and offered assistance.
Bitfinex, which said it was “working on an assistance package for individuals harmed by the earthquake,” and Bybit, which echoed these sentiments and emphasized their “help is on its way to the afflicted area,” echoed these sentiments.
BitMEX, which said it will contribute the revenues of this week’s Trading Competition to the Red Crescent and encouraged other donors to do the same, joined them in their initiative, while Bitget also took tangible action.
Notably, Turkey is the biggest cryptocurrency market in the Middle East and North Africa (MENA) region, which in 2022 saw the fastest year-over-year (YoY) rise in crypto transaction volume among all regions.
Finbold announced on October 21 that Turkey was ranked 12th among all nations in Chainanalysis’s 2022 Global Crypto Adoption Index, with a 10.5% YoY increase in crypto transaction volume, as its residents received $192 billion worth of crypto from July 2021 to June 2022.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.