Binance will start sending tokens on Sept. 16, while KuCoin will begin providing token donations on Sept. 18.
As the strongest storm to hit Southeast Asia this year moves into Vietnam, cryptocurrency companies have committed to airdropping tokens to support victims of Typhoon Yagi.
On Sept. 13, reports indicated that the typhoon’s death toll in Vietnam had exceeded 250.
The state disaster management agency reported that over 820 people were injured, and 82 are still missing.
To aid those affected, crypto exchanges Binance and KuCoin have announced plans to airdrop tokens to users in the impacted regions.
Binance and KuCoin Pledge Tokens for Victims
In a statement to Cointelegraph, Binance’s charitable division revealed its commitment of $1 million in BNB tokens for typhoon victims in Vietnam.
According to Binance, users in the hardest-hit areas who are registered with the platform will receive tokens.
Those residing in 25 northern Vietnamese cities most impacted by the storm will receive $50 in BNB tokens, provided they completed proof-of-address (POA) registration before Sept. 10.
For users who were unable to finish POA registration before Sept. 10, Binance Charity said it will distribute $20 in BNB tokens, with the condition that they register on the platform before Sept. 10 and complete POA by Sept. 30. The first round of donations is set to reach victims on Sept. 16.
KuCoin has also announced that it will airdrop 10,000 KuCoin tokens, valued at around $80,000, to those affected by the typhoon.
The exchange will airdrop $20 worth of KCS tokens to users in typhoon-hit areas.
KuCoin explained that it will identify users through their access logs, and those who completed Know Your Customer (KYC) verification and conducted transactions between Aug. 1 and Sept. 12 will qualify for the airdrop. The distribution of donations will begin on Sept. 18.
Crypto Donations Provide Quick Support in Crisis
In 2023, Kim Grauer, Director of Research at Chainalysis, noted that cryptocurrency donations offer a fast and efficient means of providing aid during crises.
She explained that crypto’s ability to facilitate cross-border, instant transactions makes it an ideal tool for raising funds and delivering them swiftly to areas in need.
