Binance Pledges $3 Million in USDT to Aid Victims of Devastating Venezuela Earthquakes
Binance Charity, the philanthropic arm of Binance, has announced a $3 million initiative to support Venezuelans affected by recent devastating earthquakes. The exchange will distribute $20 USDT vouchers to users who have completed Proof of Address (POA) and Know Your Customer (KYC) procedures, targeting residents in the most affected areas: La Guaira, Distrito Capital, Miranda, Aragua, Carabobo, Falcón, and Yaracuy. Recipients will receive the funds within 30 days of completing their POA.
Additionally, Binance is eliminating peer-to-peer (P2P) transaction fees for Venezuelan bolivars until July 2, a widely used feature in the country, and waiving Binance Pay fees for the same period. The moves aim to provide immediate financial relief and facilitate access to essential resources.
Binance CEO Richard Teng expressed deep sadness over the devastation, while co-founder Yi He emphasized the company’s commitment to making the world a better place. This initiative underscores Binance’s ongoing efforts to support communities in crisis, following previous aid such as $150,000 for flood relief in India.