Ethereum co-founder Vitalik Buterin has shown his kindness and support to individuals affected by the recent earthquake in Turkey and Syria by making a large donation.
According to several news sources, Buterin donated nearly $150,000 in ether to earthquake support Ahbap to help with the recent natural disaster in the two countries.
Ethereum co-founder reaches out for help
Vitalik moved a total of 99 ETH, or roughly $150,000, from his wallet address “Vitalik.eth” to a wallet branded “Ahbap Yardm,” according to Etherscan transaction data.
Buterin’s generous contribution is sure to have a positive impact on the organization’s efforts to help the victims of the tragedy.
The contribution also highlights the growing adoption of cryptocurrencies as a means of charitable assistance.
Ethereum co-founder Vitalik Buterin. Image: Bitcoinik
The important role of cryptography during a disaster
Natural disasters make it difficult for people to obtain funds for necessities such as medical supplies and food through standard banking services. Cryptocurrencies, such as Ethereum, will make the process of getting paid significantly simpler and faster.
Binance CEO Changpeng Zhao said in a press release that the recent earthquakes in Turkey and Syria have had a catastrophic impact on many individuals and communities.
He added, “We hope that our efforts will bring some relief to those affected. We also call on our peers in the industry to come together again to provide support in these times of crisis.”
On Monday, the lives of millions of people in Turkey and Syria were irreversibly changed by two tremors that occurred in quick succession and sent shockwaves across hundreds of miles.
The earthquakes had magnitudes of 7.8 and 7.5 on the Richter scale, nine hours apart, and were the strongest earthquakes in the region in nearly a hundred years.
The earthquake claims the lives of 25,000 people
As of Saturday, the death toll in the two countries exceeded 25,000, making the earthquakes the worst in the world in more than a decade.
Image: Rami Al Sayed/AFP Via Getty Images
The death toll in Turkey and Syria this week surpassed Japan’s Fukushima disaster in 2011, where a magnitude 9.0 earthquake triggered a tsunami that killed more than 18,400 people.
“We are facing one of the biggest disasters not only in the history of the Turkish Republic but also in the world,” Turkish President Recep Tayyip Erdogan said on Tuesday.
In the aftermath of the earthquake, Chainalysis, a blockchain analytics startup, estimates that more than $5 million in Ethereum and other cryptocurrency donations were sent to Turkey and Syria.
Crypto total market cap at $971 billion on the weekend chart | Chart: TradingView.com
Binance donated $5 million in total donations
Elliptic, a competitor to Chainalysis, verified these accounts. Several crypto companies have secured more than $10 million in crypto tokens, as revealed by the startups. Binance offered a total of $5 million in donated funds.
Buterin gave away about $1 billion worth of Ethereum and other cryptocurrencies to various charities in May 2021, including those providing aid to victims of COVID-19 and the Indian earthquake.
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