Binance Charity Donates $1 Million in BNB to Flood Victims in Brazil

Rebeca Moen  May 12, 2024 02:48  UTC 18:48

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Binance Charity Extends Aid to Brazilian Flood Victims

In response to the recent devastating floods and heavy rains in the Southern Region of Brazil, Binance Charity is extending a helping hand. The charitable arm of the world's largest cryptocurrency exchange has announced that it will donate up to US$ 1 million in BNB token vouchers to registered Binance users living in the flood-impacted areas.

Identification Based on Proof of Address

The identification of eligible users will be based on Proof of Address (POA) completed on or before May 6, 2024, in Rio Grande do Sul cities significantly impacted by the heavy rains. The users who have completed POA before this date in the state will each receive $80 USD in BNB token vouchers in their Rewards Hub.

Aid for Users Yet to Complete POA

Binance acknowledges that many users in the affected cities may not have completed their POA. Subsequently, for any existing user who completes their POA after May 7 and before June 6, 2024, the exchange will issue $25 USD in BNB token vouchers to their accounts. The funds are expected to start reaching users from May 9, 2024.

Role of Crypto in Disaster Relief

The aftermath of natural disasters often sees people losing access to traditional banking precisely when they need extra funds for essentials like medical supplies, food, and other needs. Crypto transfers are emerging as a viable solution, offering fast, low-cost, borderless, and transparent transactions.

Binance's Commitment to Aid

In these challenging times, Binance stands by its users and continues to explore additional ways to support the community in Brazil. In the past, Binance Charity has also extended support to users in countries including Ukraine, Turkey, Libya, Morocco, Taiwan, and Italy. For more information about Binance Charity's program for the Brazilian floods and heavy rains, users are directed to the FAQ page on the Binance website.

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