Binance Charity Pledges $3 Million in USDT Aid for Venezuela Earthquake Victims

Binance Charity announced a $3 million initiative to support Venezuelans affected by recent twin earthquakes that left nearly 920 dead and thousands homeless. The philanthropic arm of Binance will distribute aid as $20 USDT vouchers to verified users in seven affected states. The cryptocurrency industry is mobilizing disaster relief as Venezuela faces widespread destruction from the natural disaster.

Binance Charity Distributes $20 USDT Vouchers to Verified Users

Binance Charity revealed that it will distribute $3 million to users who have completed Proof of Address (POA) and Know Your Customer (KYC) procedures, indicating they reside in La Guaira, Distrito Capital, Miranda, Aragua, Carabobo, Falcón, and Yaracuy, areas that were most affected by the natural disaster.

The help will be distributed as $20 USDT vouchers redeemable in Binance's platform rewards hub. "Users will receive the funds within a maximum of 30 days from the completion date of their POA," the exchange stated.

Binance Waives Transaction Fees Until July 2

The exchange announced a general transaction fee waiver for peer-to-peer (P2P) Venezuelan bolivar transactions, one of the most extended use cases for Binance in the country, allowing Venezuelans to purchase or sell their crypto assets without added cost until July 2.

Binance Pay transactions will be exempt from fees until the same date, allowing fee-free purchases.

Binance Executives Express Support for Venezuela

Binance CEO Richard Teng stated that the exchange, which is the most popular crypto platform in the country, was "deeply saddened by the devastation caused by the earthquakes in Venezuela." Yi He, co-founder of Binance, stressed that they wanted to "work together to make this terrible world a better place."

"During these difficult times, Binance stands with its users, and we will continue working to find new ways to help our community in Venezuela," Binance Charity concluded.

FAQ

What did Binance Charity announce for Venezuela earthquake victims? Binance Charity announced a $3 million initiative to distribute $20 USDT vouchers to verified users in seven affected Venezuelan states: La Guaira, Distrito Capital, Miranda, Aragua, Carabobo, Falcón, and Yaracuy.

How will Binance distribute the earthquake relief funds? Users who have completed Proof of Address (POA) and Know Your Customer (KYC) procedures will receive $20 USDT vouchers redeemable in Binance's platform rewards hub within a maximum of 30 days from their POA completion date.

What transaction fee waivers did Binance implement for Venezuela? Binance waived transaction fees for peer-to-peer Venezuelan bolivar transactions and Binance Pay transactions until July 2, allowing Venezuelans to purchase or sell crypto assets without added cost.