Binance Charity pledges $3M in USDT vouchers to Venezuela

Binance Charity pledged $3 million to residents in Venezuelan states hit by recent earthquakes. The funds will be distributed as 20 USDT vouchers to each verified user who completes Know Your Customer and Proof of Address checks. Eligible residents must show residency in La Guaira, Distrito Capital, Miranda, Aragua, Carabobo, Falcón or Yaracuy. Vouchers will be redeemable in Binance’s rewards hub and delivered within a maximum of 30 days after POA approval.

Binance announced that peer-to-peer transactions in Venezuelan bolivars will be exempt from platform fees through July 2. Binance Pay purchases will be fee-free until the same date. The company noted P2P bolivar trades are one of the platform’s most common use cases in Venezuela, used for local buy-and-sell activity.

Richard Teng, Binance CEO, described the company as “deeply saddened by the devastation caused by the earthquakes in Venezuela.” Yi He, Binance co-founder, added that the team wanted to “work together to make this terrible world a better place.” Binance Charity, the exchange’s philanthropic arm, will coordinate distribution and related operations.

Authorities reported an official death toll near 920 and that many people were displaced after buildings were destroyed. The voucher program covers the areas that saw the most damage, according to the announcement.

Binance Charity has provided emergency relief in past disasters. The latest effort focuses on rapid digital delivery of small cash-equivalent aid to verified users while temporary fee waivers are intended to reduce transaction frictions during recovery.