On February 7, the Turkish financial regulator relaxed regulations to permit crypto donations for disaster assistance.
In seven days, the crypto community raised almost $4.5 million for disaster relief in Turkey. On February 7, three contribution wallets were set up to accept funds. Approximately $4.5 million has been given as of this writing.
On the first day, Emin Gün Sirer, a Turkish academic, donated $1 million to Avalanche (AVAX), whereas Sasha.waves donated $50,000 to Waves (WAVES).
A large number of people, including crypto influencers from Turkey and around the world as well as regular people, have contributed thousands of dollars worth of cryptocurrency to aid with disaster relief in the region.
Following the occurrence of three big earthquakes in Turkey, a Turkish musician by the name of Haluk Levent was successful in convincing the country’s financial authority to allow the collection of cryptocurrency donations, which is otherwise prohibited in Turkey.
For a period of one week, donations could be made to one of three cryptocurrency wallets thanks to MASAK. Levent is the owner of the wallets, and he uses his Twitter account to detail all of the important donations and expenses he undertakes.
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.