Crypto players support earthquake survivors and what is up on the 14th of this month?
As the world comes to terms with the recent and tragic loss of over 4,000 people following the earthquake disaster in Turkey and Syria, companies in the crypto space are also participating to offer aid. Crypto offers the convenience of fast, low-cost, transparent, and borderless transactions. Binance promised to airdrop $ 100 of its BNB tokens directly to its users in the most hit areas and disperse a total of $5 million dollars.
Back home, the case of Binance’s ability to track the affected users’ locations based on proof of address, gives us a reflection of how important Know Your Customer (KYC) is. Adbank’s Beta Partner, popularly known as the Self-serve platform guarantees individuals and partners of real (KYC-verified) Blade app users to perform tasks that result in the growth of your social media platforms.
It is good news following the collapse of the FTX exchange, among others that the crypto space is gaining confidence with investors. SALT, a crypto lender that was affected by the collapse of the FTX exchange has made a comeback by securing a series A funding worth $64.4 million to strengthen its balance sheet and replenish its cash reserves. Founders and management of crypto firms and exchanges need to run their businesses with transparency and professionalism to win the confidence of users and investors interested in the burgeoning space.
Meanwhile, mergers are happening to leverage on strengths of each player. Mining firms are facing various challenges including the high cost of power. Hut 8 and US Bitcoin’s recent merger is expected to improve the value of Hut 8 once completed.
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