Amid Typhoon Yagi, one of the strongest storms to hit Southeast Asia this year, two major cryptocurrency exchanges Binance and KuCoin have pledged to provide emergency relief by airdropping crypto tokens to heavily affected areas in Vietnam.
According to a report from the Vietnam Disaster Management Agency on September 13, Typhoon Yagi has claimed the lives of more than 250 people, injured more than 820, and left 82 missing. In response to this dire situation, Binance and KuCoin have joined hands to provide relief by airdropping tokens to people in affected areas to help with the recovery process.
Binance has announced that it will donate $1 million in BNB tokens to typhoon victims. Residents in 25 heavily affected cities and regions will receive $50 in BNB if they complete the address verification process before September 10. Those who complete it after September 10 but before September 30 will receive $20. Token distribution will begin on September 16.
KuCoin also joined the relief effort by pledging to airdrop 10,000 KuCoin tokens (KCS), worth approximately $80,000, to users in affected regions. Eligible users will receive $20 in KCS tokens, based on their KYC and transaction history from August 1 to September 12. Token distribution will begin on September 18.
Blockchain and cryptocurrencies are becoming an important part of emergency relief efforts. According to Kim Grauer of Chainalysis, cryptocurrencies provide a means of providing financial support across borders quickly and efficiently. The ability to make instant transactions makes cryptocurrencies an important resource for organizations and individuals looking to provide timely humanitarian assistance.
