Vitalik Buterin, co-founder of Ethereum, has shown his kindness and support for individuals affected by the recent earthquake in Turkey and Syria by making a sizeable donation.
According to numerous news sources, Buterin gave approximately $150,000 worth of Ether to Ahbap Earthquake Support to assist with the recent natural disaster in the two countries.
Ethereum Co-Founder Reaches Out To Help
Vitalik transmitted a total of 99 ETH, or approximately $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 aid victims of the tragedy.
The contribution also highlights the increasing adoption of cryptocurrencies as a means of charitable assistance.
Ethereum co-founder Vitalik Buterin. Image: Bitcoinik
Crypto’s Important Role During A Disaster
Natural calamities make it harder 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 acquiring funds significantly simpler and quicker.
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 that our efforts will bring some relief to those affected. We are also calling on our industry peers to once again come together to offer support in these times of crisis,” Zhao said.
On Monday, the lives of millions of people in Turkey and Syria were irrevocably altered as a result of two tremors that occurred in quick succession and sent shockwaves across hundreds of miles.
The magnitudes of the earthquakes were 7.8 and 7.5 on the Richter scale, separated by nine hours, and they were the region’s strongest in nearly a hundred years.
Quake Claims 25,000 Lives
As of Saturday, the number of deaths in the two countries has topped 25,000, making the earthquakes the worst in the globe in more than a decade.
Image: Rami Al Sayed/AFP Via Getty Images
This week’s fatalities in Turkey and Syria eclipsed Japan’s 2011 Fukushima disaster, in which an earthquake of magnitude 9.0 caused a tsunami that claimed the lives of more than 18,400 people.
“We are facing one of the biggest catastrophes not only of the history of the Turkish Republic but also of … the world,” President Recep Tayyip Erdogan, president of Turkey, said 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 Gives Out $5 Million In Total Donations
Elliptic, a competitor of Chainalysis, has verified these computations. Numerous crypto companies have guaranteed over $10 million in crypto tokens, as uncovered by the startups. Binance offered a total of $5 million in donated funds.
Buterin gave 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.
-Featured image from Sky News