Following Typhoon Yagi, one of the strongest storms Asia has faced in recent times, leading cryptocurrency exchange Binance has decided to provide support to its registered users in Vietnam. Binance Charity will be distributing $1 million worth of BNB to users in the regions affected by Typhoon Yagi. This aid is seen as a continuation of Binance’s previous philanthropic activities in Vietnam.
Distribution of Aid
Binance plans to distribute aid using the address information of users living in 25 cities in northern Vietnam that were affected by the storm. Users who complete address verification in these cities before September 10, 2024 will receive $50 worth of BNB directly to their Binance accounts. Additionally, users who complete address verification between September 10, 2024 and September 30, 2024 will be supported with $20 worth of BNB.
Binance and Its Impact on the Vietnamese Market
Despite not being regulated in Vietnam, Binance has a huge influence in the market. In the past, Binance has also provided humanitarian aid, such as medical supplies and water filtration projects. This aid helps the company grow its influence in Vietnam. Binance CEO Richard Teng expressed his solidarity with the Vietnamese people affected by Typhoon Yagi.
Binance’s Place in the Cryptocurrency Market
With the proliferation of digital assets and Web3 protocols, Binance has made significant gains. The company has more than 221 million registered users worldwide. Binance has continued to support young Web3 projects in this area by providing liquidity. BNB has gained more than 76% since the beginning of the year, attracting the attention of investors.
Binance’s customer protection policies have helped the company achieve success despite regulatory hurdles in some countries, such as the US. Some of Binance’s competitors have suffered serious losses due to poor management. Binance has managed to build a strong customer base by avoiding such issues.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
