Tether To Donate $1M To Hurricane Dorian Relief; Users Can Also Send USDt To The Bahamas Recovery Fund
Tether, the famous stablecoin issuer, has recently decided to donate $1 million dollars to support the people who were affected by the Hurricane Dorian, which devastated the Bahamas and caused significant damage to some regions of the United States.
Tether is donating $1M and has set up an address to collect donations in Tether (USDt) to support humanitarian relief efforts in the wake of the devastation caused by Hurricane Dorian.
— Tether (@Tether_to) September 10, 2019
The announcement happened today and all the donations will be made via Deltec Cares, a nonprofit organization that is currently focusing on providing support to the victims of the hurricane.
One of the most important aspects of the donations, besides the obvious help that it is to the victims, is that this is a first for Tether. Never before this crypto company donated this much money to help in natural disasters.
It was speculated that something that may have affected the decision of the company was that Deltec Bank & Trust, which is a partner of the company, is based in the Bahamas.
Besides offering the money, the company has also called its clients to help to support the victims of the natural disaster and provided two crypto wallet addresses that can be used in order to donate money to the campaign. All contributions sent to the wallet will be donated via Deltic Cares as well.
In related news, Binance’s charity branch also started its own campaign to donate money to the victims who were affected by the Hurricane Dorian. The company will donate an amount and urge its clients to do the same.