Vitalik Buterin Contributes 99 ETH To The Turkey Earthquake Charity Fund

Key Points:
  • Vitalik Buterin, co-founder of Ethereum, has donated 99 ETH to Ahbap Earthquake Support in response to the recent disasters in Turkey and Syria.
  • The ETH transfer was confirmed by transaction data, and the receiver wallet has about 393 ETH ($600,000) with a total value of more than $1.55 million.
Vitalik Buterin, one of the people who helped build Ethereum, has made a sizable donation to aid those affected by the earthquake that struck Turkey and Syria.
Vitalik Buterin Contributes 99 ETH To The Turkey Earthquake Charity Fund

According to Etherscan statistics, Vitalik Buterin‘s Ethereum address vitalik.eth gave 99 ETH (about $150,000) on February 11 at 13:49:23 Beijing time. This address’s ETH balance is now at 393 ETH (about 600,000 USD). Furthermore, Uniswap creator Hayden Adams stated that 12,200 UNI tokens (about $78,000) were paid to the NGO group AHBAP’s encrypted contribution wallet.

Vitalik Buterin’s big gift is likely to have a favorable influence on the organization’s efforts to assist individuals impacted by the tragedy. The donation also emphasizes the growing acceptance of cryptocurrency as a way of making philanthropic contributions. When compared to traditional techniques, it provides for faster and more efficient financial transfers.

Vitalik Buterin Contributes 99 ETH To The Turkey Earthquake Charity Fund

Chainalysis, a blockchain analytics startup, estimates that over $5 million in cryptocurrency donations had been delivered to Turkey and Syria in the aftermath of the earthquake. Haluk Levent, a local artist and AHBAP founder, expressed this opinion. He turned to Twitter to express his joy at the outpouring of cryptocurrency support.

Elliptic, a Chainalysis competitor, has confirmed these calculations. The businesses discovered that over $10 million in crypto tokens had been promised by numerous crypto firms. Binance, perhaps most famously, has offered a total of $5 million in contributed monies.

Despite the noble intentions driving this outpouring of crypto support, the reality in Turkey is more difficult. With the country already in economic turmoil before the earthquake, many citizens are eager to embrace the promise of cryptocurrency as a store of wealth and inflation hedge. According to one local resident called Tolga, while many are thrilled about cryptocurrency, the fact is that it is not yet a realistic option for everyday living.

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