In the wake of Hurricane Dorian wreaking havoc in the Bahamas, Tether is pledging to donate $1 million for relief efforts.
It was roughly two weeks ago when Hurricane Dorian first formed. What started out as a tropical wave became a deadly Category 5 hurricane in just a matter of days. Dorian hammered the Bahamas as it hovered at a near standstill for a number of agonizing hours. The Bahamas was devastated by the storm, but Tether is looking to aid in the relief efforts by pledging $1 million.
— CNN (@CNN) September 3, 2019
Tether Stepping Up
In an official announcement, Tether said they were donating the million dollars through the Deltec Cares charity. This non-profit charitable organization was founded to support both the immediate relief efforts and longer-term assistance necessary to help survivors of natural disasters in the Bahamas recover and rebuild. One of the noteworthy aspects of this charity is that a full 100% of all funds raised are used to provide humanitarian relief.
Tether has also set up several addresses for individuals looking to donate some USDT cryptocurrency to this noble cause. The two addresses are:
USDt Omni: 12Rfdk9N2rNpQYqKzcALnZsoKjTG1if2V3
USDt ERC-20: 0x424993354510156DE7AB3C15aa5CbFE657e7aB78
The announcement also notes:
All contributions will be sent to Deltec Cares (in USDt or, preferred, in cash) to help those in need recover from the devastation.
This is the first charity project undertaken by the stablecoin. However, this is not the only cryptocurrency enterprise looking to help the victims of Hurricane Dorian. Binance Charity had already set up a crypto-fundraising channel back on September 5th. Binance is accepting BTC, BNB, and XRP for donations. As of the time of writing, a total of .56 BTC has been raised by Binance Charity.
This video is from Freeport, Bahamas on Monday morning. Water has risen to the second floor of this home.
— The Weather Channel (@weatherchannel) September 3, 2019
The Bahamas is definitely in need of any aid they can get. Dorian slammed into the Caribbean nation with 185-mph winds, making it the strongest hurricane in modern times to hit the country. The storm surge reached up to a staggering 23 feet, which swept away many buildings.
So far, 43 deaths have been attributed to Hurricane Dorian, but the death toll could reach higher as recovery efforts continue. Property damage to the Bahamas from the storm is estimated to be $7 billion, and as many as 13,000 homes on Abaco Island alone were damaged or destroyed. The United Nations estimates that over 70,000 people on Grand Bahama and Abaco Islands have been left homeless from the storm.
Hurricane Dorian veered north after hitting the Bahamas, eventually hitting areas in Florida, South Carolina, North Carolina, and the Atlantic seaboard of Canada. However, the storm had lessened to a mere Category 1 hurricane by that time. It was the Bahamas that took the full brunt of Hurricane Dorian’s fury.
Any help from the cryptocurrency community would be tremendous in helping the Caribbean nation recover.
Images courtesy of Twitter/@weatherchannel, Twitter/@CNN, and Wikimedia Commons/Coast Guard Air Station Clearwater.
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