Haluk Levent, founder of the Turkish nonprofit Ahbap, said Binance's donation will help support his organization's efforts to rebuild homes that were destroyed by the recent earthquake and also demonstrates how cryptocurrency and blockchain can support humanitarian efforts. Binance, the largest crypto exchange in the world, recently announced a crypto donation of $100,000 to help Ahbap construct earthquake-resistant steel homes in Turkey.
"Having a safe shelter is extremely important for affected families as it helps them to gradually gain back normalcy, stability, and independence into their lives. Binance’s donation today will greatly support Ahbap’s efforts and allow us to benefit more families. It is also evidence of how crypto can be harnessed for good, and I am grateful to Binance for being a shining testament of blockchain’s transformative power," said Levent.
Levent founded Ahbap in 2017. Since then, Ahbap has become widely known within Turkey for its diverse relief and recovery initiatives across the country. After severe earthquakes hit Turkey earlier this year, Ahbap partnered with other NGOs to advance recovery efforts, including building homes and helping children go back to school.
Mucahit Donmez, the general manager of Binance TR said, “Recovery and rebuilding initiatives are key to helping the community and its economy bounce back after experiencing a debilitating natural disaster. Significant amounts of time, effort, and resources are required. By partnering with Ahbap, Binance wants to do our part to help and provide practical support to those who need it.”
Binance directly airdropped $100 in crypto to its users in Turkey who were impacted by the earthquake earlier this year.
A report from Nasdaq highlighted speed and accountability as two reasons why more philanthropic organizations are using cryptocurrency and blockchain technology. The report stated that charitable organizations amplify their reach when they partner with crypto companies.
Crypto's revolutionary features, powered by blockchain technology, enable donors to trace their donations, increasing accountability. Utilizing crypto allows charities to operate smoothly across different regions and cut banks out of the process. This is key for servicing under- or unbanked areas. Providing donations in crypto reduces taxes, hidden fees, and the risk of theft. "For philanthropic organizations, it is no longer a question of if they’ll start accepting crypto donations, but when," according to the Nasdaq report.