Vitalik Buterin, co-founder of Ethereum, has shown his kindness and support to individuals affected by the recent earthquakes in Turkey and Syria by making a sizeable donation.
According to multiple news sources, Buterin donated approximately $150,000 worth of Ether to the Ahbap Earthquake Support to help with recent natural disasters in the two countries.
Ethereum Co-Founder Reaches Out to Help
Vitalik sent a total of 99 ETH, or about $150,000, from the wallet address “vitalik.eth” to a wallet branded “Ahbap Yardm,” according to Etherscan transaction data.
Buterin’s great contribution has certainly had a positive impact on the organization’s efforts to help the victims of the tragedy.
The contribution also highlights the increasing adoption of cryptocurrencies as a means of charitable giving.
Ethereum co-founder Vitalik Buterin. Image: Bitcoinik
The Important Role of Crypto During Disasters
Natural disasters make it more difficult for people to find funds for necessities such as medical supplies and food through standard banking services. Cryptocurrencies, such as Ethereum, will make the process of obtaining funds easier and faster.
Changpeng Zhao, CEO of Binance, stated in a press statement that the recent earthquakes in Turkey and Syria have had a catastrophic effect on so many individuals and communities.
“We hope our efforts will help those affected. We also call on our industry friends to come together again to provide support in this time of crisis,” Zhao said.
On Monday, the lives of millions of people in Turkey and Syria were upended by two tremors that struck in quick succession and sent shockwaves hundreds of miles away.
The magnitude of the earthquake was 7.8 and 7.5 on the Richter scale, separated by nine hours, and the strongest earthquake in the region in almost a hundred years.
Earthquake Claims 25,000 Lives
As of Saturday, the death toll in the two countries has reached around 10,000. about about.
Image: Rami Al Sayed/AFP Via Getty Images
This week’s deaths in Turkey and Syria surpassed the Fukushima disaster in Japan in 2011, when a 9.0-magnitude earthquake triggered a tsunami that claimed more than 18,400 lives.
“We are facing one of the biggest disasters not only in the history of the Republic of Turkey but also … in the world,” said President Recep Tayyip Erdogan, Turkey’s president, on Tuesday.
After the earthquake, Chainalysis, a blockchain analytics startup, estimated 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 Gives $5 Million in Total Donations
Elliptic, a Chainalysis competitor, has verified the computation. Many crypto companies have guaranteed more than $10 million in crypto tokens, as found by startups. Binance is offering a total donation fund of $5 million.
Buterin gave away about $1 billion of Ethereum and other cryptocurrencies to various charities in May 2021, including those providing relief to victims of COVID-19 and the Indian earthquake.
-Image shown is from Sky News