HomeNEWSCrypto.com donates $53,102 to victims of Turkey earthquake

Crypto.com donates $53,102 to victims of Turkey earthquake


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In a Twitter post today, prominent cryptocurrency exchange, Crypto.com has donated $53,102 to victims of the earthquake in Turkey. According to the announcement, the donation emanated through an ERC20 wallet set-up by an event planner.

The cryptocurrency exchange called on community members to support the donation in providing relief materials for the victims. Additionally, Crypto.com revealed a wallet address so its community members can forward their donations. Since the news of the deadly earthquake hit the media space, top cryptocurrency exchange like Binance and Bitgert have shown support to the victims of the earthquake.

The host of donations pouring in from the cryptocurrency space reflects another reputable way the industry has provided support when needed. Recall that cryptocurrency was as well instrumental in assisting victims of battle-ravaged regions in Ukraine. Then, cryptocurrency enthusiasts donated to numerous fundraising schemes set up to assist Ukraine in fighting against Russia. Now, the donation from Crypto.com to victims of the earthquake in Turkey will assist them to get some essentials.

More so, since the natural disaster rocked a part of Turkey and Syria on Monday morning, government sources have confirmed the death of more than 7,926 persons. While 8,000 persons have been rescued from the debris. Presently, the earthquake has rendered more than 380,000 persons homeless. Meanwhile, the figure is expected to increase as government and volunteering search groups are searching through the ruins for survivors.

Notable side notes about Crypto.com

Away from the earthquake in Turkey and Syria, Crypto.com in recent times is struggling to stay in business due to the prevailing crypto winter. According to a Binbits report last month, the cryptocurrency exchange reduced its workforce by 20%. As reported, the CEO of the exchange, Kris Marszalek divulged that the lay-off isn’t performance related.

Further, the CEO cited that the collapse of FTX affected a host of cryptocurrency firms including Crypto.com. Marszalek cited how customers are losing trust in CEXs, thus, resulting in a downward trend in trading volume.

The layoff amounted to the second time the crypto exchange will take such a decision during the crypto winter. In 2022, Crypto.com reduced a substantial size of its employees at the height of Terra and 3AC collapse. According to Coinmarketcap, the cryptocurrency exchange is ranked the 15th largest exchange by trading volume.

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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