Binance Charity Sends $3M in Aid After Venezuela Earthquake

Binance Charity, the philanthropic arm of the crypto exchange, said it delivered $3 million in emergency aid to northern Venezuela after a series of earthquakes struck the region on June 24.

The funds are earmarked for relief efforts supporting communities hit by the quakes. Binance Charity did not specify which organizations would distribute the aid or provide a timeline for disbursement.

The exchange's charity unit has previously directed donations to disaster zones, including earthquake relief in Turkey and Syria in 2023. Crypto-based transfers can move faster than traditional bank wires in regions where banking infrastructure is damaged, though Binance did not say whether the Venezuela aid was sent on-chain.

The June 24 earthquakes in northern Venezuela registered magnitudes between 5.0 and 6.0, according to local reports. Damage assessments are still underway.