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Following the recent devastation caused by Typhoon Yagi, Binance, a leading cryptocurrency exchange, has decided to support registered users in Vietnam. Binance Charity will distribute $1 million worth of BNB to users affected by the typhoon. This initiative is seen as a continuation of Binance’s previous charitable 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 impacted by the typhoon. Users who complete address verification before September 10, 2024, will receive $50 worth of BNB directly to their Binance accounts. Additionally, between September 10, 2024, and September 30, 2024, users who complete address verification will receive $20 worth of BNB as support.
Binance’s Influence in the Vietnamese Market
Despite not being legally regulated in Vietnam, Binance has a significant influence in the market. In the past, the platform has engaged in humanitarian efforts, including providing health supplies and water filtration projects. These contributions have helped enhance the company’s reputation in Vietnam. Binance’s CEO, Richard Teng, expressed solidarity with the Vietnamese people affected by Typhoon Yagi.
With the proliferation of digital assets and Web3 protocols, Binance has achieved substantial success. The company boasts over 221 million registered users worldwide. By supplying liquidity to emerging Web3 projects, Binance continues to showcase its support for this sector. Notably, BNB has gained over 76% in value since the beginning of the year, capturing the interest of investors.
Binance’s customer protection policies have played a key role in its success, even amid regulatory hurdles in major markets like the United States. Some of Binance’s competitors have faced significant losses due to poor management, yet Binance has managed to build a robust customer base by avoiding similar issues.
