In a compassionate move for victims of the recent Typhoon Yagi in Northern Vietnam, Binance and KuCoin have separately announced generous aid via airdrop tokens to help the victims.
To provide relief to the affected persons and communities in Typhoon Yagi, Binance has pledged to commit $1M in BNB while KuCoin will commit 10,000 KCS tokens, worth about $80K.
Binance, Kucoin Pledge Reliefs To Victims Of Typhoon Yagi In Vietnam
In condolence, two crypto firms, Binance and Kucoin, have pledged to help those affected by the damage caused by Typhoon Yagi in Northern Vietnam.
Recently, a powerful and fierce storm hit Vietnam in Southeast Asia, destroying homes and properties.
According to reports, Typhoon Yagi has destroyed over 250 lives as of September 13. Vietnam disaster management agency further revealed that about 82 people are missing, while more than 820 people were reportedly injured.
In response to the damage caused by Typhoon Yagi, both Binance and KuCoin have separately announced that they will airdrop BNB and KCS, respectively, to support their users who became victims of the incident, especially those who live in the most-hit areas.
How The Two Crypto Exchanges Intend To Support Their Affected Users
In an X post, Binance pledged to commit $1M in BNB tokens to support only “registered users in the areas most affected by the incident.”
The crypto exchange announced that the most affected users in 25 Northern Vietnam cities will receive BNB tokens worth $50 each if they complete a proof-of-address (POA) registration before September 10.
Binance added that those who do not complete the POA registration before the deadline will receive BNB tokens worth $20 in their Binance account, provided they registered on the platform before September 10 and completed the POA registration before September 30.
Binance Charity announced that it will start sending airdrops to victims from September 16.
KuCoin, on the other side, released a statement pledging to airdrop 10,000 KCS tokens, which is about $80,000, to its users in the typhoon-affected areas. According to Kucoin, each affected user will receive KCS tokens worth $20.
Kucoin follows slightly different criteria, as the airdrop does not include new registrations. Only users who achieved certain levels of Know-Your-Customer (KYC) verification and made transactions between August 1 and September 12 are eligible for the airdrop.
To ensure spicy adherence, Kucoin said that users will be identified through their backend access logs.
KuCoin added that it will commence airdrop on September 18.
Vietnam, One Of The Top Ten In Cryptocurrency Adoption
One of the possible reasons why Vietnam received timely support from the two crypto exchanges may be because of its level of cryptocurrency adoption.
Recently, it was reported that Vietnam is one of the top 10 countries leading in cryptocurrency adoption. Vietnam ranked 5th in the Chainalysis 2024 Global Crypto Adoption Index, following the US, Indonesia, and Nigeria.
According to Chainalysis, India maintains its position as the global leader in cryptocurrency adoption and use despite the country’s harsh stance and regulatory uncertainties towards cryptocurrency.
