As the devastating Typhoon Yagi continues to wreak havoc in Vietnam, crypto exchanges Binance and KuCoin have announced their commitment to providing relief efforts through token airdrops. With the death toll surpassing 250 and countless others affected, these initiatives aim to offer much-needed support to the affected communities.
Binance and KuCoin announce major crypto airdrops for Typhoon relief
Binance’s charity arm committed $1 million in BNB tokens to support typhoon victims. According to Binance, users who are registered in the 25 hardest-hit cities in northern Vietnam will receive $50 in BNB tokens, provided they complete proof-of-address (POA) registration before Sept. 10. For those unable to complete the POA before that date, Binance Charity will distribute $20 in BNB tokens to accounts registered before Sept. 10, with POA completion required by Sept. 30. The first round of donations is scheduled for Sept. 16.
Similarly, KuCoin has pledged to airdrop 10,000 KCS tokens (worth approximately $80,000) to Typhoon victims. Vietnamese users who met certain Know Your Customer (KYC) verification levels and transacted between Aug. 1 and Sept. 12 will receive $20 in KCS tokens. KuCoin will begin distributing donations on Sept. 18.
The integration of digital assets into philanthropy has brought a surge in crypto donations
Crypto philanthropy increased significantly in 2021, reaching more than $500 million in the United States alone. A shift in donor preferences and nonprofit adoption is supporting the trend. Donor behaviour is changing as cryptocurrency has proven to be a crucial tool for delivering swift aid during a crisis.
For example, crypto donations poured in rapidly during the war in Ukraine, providing significant support. By March 28, 2022—just over a month into the conflict—more than $56 million worth of digital assets had been donated to government-provided addresses and charitable organizations accepting crypto. This same potential for fast relief is evident in the response to the earthquakes in Turkey and Syria.
Kim Grauer, Director of Research at Chainalysis, noted in 2023 that cryptocurrency donations are a fast and efficient method of delivering aid during crises. The ability of crypto to facilitate instant, cross-border transactions makes it an ideal tool for raising and quickly distributing funds where they’re needed most.
The Baby Doge team has contributed over $500,000 to support animal shelters and welfare programs globally. In line with their commitment to charity, Baby Doge is launching an API to simplify crypto donations from their community, making giving back an integral part of their mission. They’ve also set a Guinness World Record for the most pet food donated within 24 hours.
