Tether Limited, the company behind stablecoin Tether (USDT), has announced that they will donate one million dollars to help victims of Hurricane Dorian.
Accept donations for assistance
In addition to their own donation, they have also set up a receiving center for donations in USDT. This address is intended to support the affected communities in the Bahamas. The company says all donations are sent to Deltec Cares, a non-profit charitable organization that provides immediate and long-term assistance to survivors of natural disasters. Binance Charity and Coinbase have also set up campaigns to donate money for assistance.
Tether Limited processes its donation through Deltec Bank and Trust Limited, based in the Bahamas. This is the organization behind Deltec Cares, with which Tether conducts their banking affairs.
Coinbase and Binance also help
The stablecoin farmer is not the only one from the crypto world who is putting his best foot forward. On 5 September the Binance Charity Foundation, a philanthropic initiative of the exchange, started a campaign to help victims of Hurricane Dorian. The charity announced that it will provide food and assistance to victims through local organizations. The Binance Charity Foundation accepts donations in bitcoin (BTC), binance coin (BNB) and XRP.
Lend a Hand Bahamas, also a foundation, cooperates with the American cryptocurrency exchange Coinbase to receive cryptodonations.
Looking for a way to help those affected by Hurricane Dorian? Lend a Hand Bahamas has set up a Coinbase Commerce account to easily accept crypto donations for relief efforts. Donate here: https: //t.co/RelnGlc4L2
And learn more about Lend a Hand Bahamas: https://t.co/HR3RCLC77l
– Coinbase (@coinbase) September 4, 2019
Hurricane Dorian is classified under category 5 and hit the Bahamas on September 1. The official death toll is currently thirty, but the Bahamian health minister, Duane Sands, expects this number to increase. The International Red Cross claims that more than 45 percent of homes in the Bahamas have been severely damaged or destroyed. UN officials also sound the alarm: more than 70 thousand people need help immediately.
Cryptocurrency for charity
This is not the first time that cryptocurrency’s have been used for charities:
- Earlier this week, the Rainforest Foundation enlisted help from the cryptocurrency community with the hashtag #CryptoFireFighter. They ask for donations to support the fight against the deforestation crisis in the Amazon.
- Another charity, Fidelity Charitable, has received more than $ 100 million in cryptocurrency donations since 2015.
- Binance Charity Foundation has announced the launch of Pink Care Token (PCAT). This token is aimed at improving the health of women in developing countries. The token comes on the Binance Chain and is linked to an annual supply of sanitary pads.
- NBA basketball team Sacramento Kings has placed several miners in the stadium. The proceeds from mined ether are used to help underprivileged youth study.
- Unicef opened thehopepage.org last year on which you can donate some computer power. The website then uses this to mine cryptocurrency.
- And do you have bitcoin cash left? You can donate this to eatBCH. The goal of eatBCH is to fight hunger.