Report: Binance’s Decision to Airdrop $3 Million to Morocco Earthquake Victims via BNB Token Criticized

Cryptocurrency speech Binance has been criticized for pledging to assistance victims of Morocco’s devastating earthquake by airdropping its autochthonal crypto token. According to Action connected Armed Violence’s Iain Overton, radical affected by the earthquake are lone funny successful getting contiguous assistance and not crypto.

Binance Accused of Using Devastation to Prop Up Its Image

, 1 of the apical cryptocurrency exchanges globally, has been criticized implicit its determination to donate its crypto token known arsenic BNB to Moroccans successful places astir affected by the caller earthquake. Some critics impeach Binance of utilizing the devastation caused by the earthquake to boost its image.

According to the Red Cross, Morocco’s 6.8 magnitude earthquake has killed much than 2,800 radical and affected much than 300,000. In immoderate places, similar the isolated Atlas Mountains, full villages were near astir wholly destroyed. In response, well-wishers including Binance person pledged fiscal assistance.

In a statement, Binance, which claims to person implicit 70,000 users successful Morocco, said it would airdrop BNB tokens worthy $100 to users successful the Marrakesh-Safi Province country who completed the alleged impervious of code (POA) earlier Sept. 9.

For users yet to implicit the POA, Binance has promised to airdrop BNB worthy $25, portion progressive users successful little affected areas are expected to get $10 worthy of BNB. The crypto speech said this process volition spot BNB worthy astir $3 cardinal being transferred to the accounts of Binance users successful Morocco.

Earthquake Victims Not Interested successful Crypto

However, successful his absorption to Binance’s proposal, Iain Overton, the enforcement manager of Action connected Armed Violence, chastised the crypto speech for seemingly choosing to prioritize its commercialized interests.

“Those affected by the catastrophe volition ne'er perceive of it, and those unaffected by the catastrophe whitethorn travel distant with a affirmative conception of [Binance’s] brand. It’s cynical astatine best,” Overton reportedly said.

The enforcement manager added that the affected radical are lone funny successful getting contiguous assistance and not crypto. Similar sentiments were echoed by the International Federation of Red Cross and Red Crescent Societies.

However, contempt Overton and others’ disapproval of crypto donations successful general, specified donations person been credited with helping Ukraine erstwhile Russia invaded the state successful February 2022. As the Ukraine struggle has shown, Binance is not the archetypal crypto oregon blockchain level to usage the plight of affected radical for selling purposes.

When the Ukrainian authorities accepted Gavin Wood’s challenge to nutrient an code for DOT — the autochthonal token of Polkadot — the second responded by donating integer tokens worthy implicit $5 million. At astir the aforesaid time, Justin Sun, the laminitis of Tron, pledged to donate $1 cardinal if the Ukrainian authorities posted a TRX address. Soon afterwards, the Ukrainian authorities announced that it was accepting donations successful the signifier of 70 antithetic integer assets.

Meanwhile, successful summation to the BNB airdrop, Binance revealed successful its Sept. 11 connection that it had launched a nationalist donation code for anyone to contribute. In summation to BNB, well-wishers tin besides donate via BTC, ETH, USDC, USDT, oregon BUSD.

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