KEY TAKEAWAYS
- Bybit donates $100,000 to aid Sri Lanka after Cyclone Ditwah causes severe flooding.
- The collaboration with the Central Bank of Sri Lanka ensures targeted relief efforts.
- Over 420 lives lost across Southeast Asia, with Sri Lanka reporting 123 fatalities.
- Bybit’s aid focuses on emergency shelters, essential supplies, and rehabilitation programs.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced an emergency humanitarian contribution to support communities affected by severe flooding across Southeast Asia. The primary focus of this aid is Sri Lanka, one of the hardest-hit countries following Cyclone Ditwah.
Over the past week, the region has experienced torrential rains and cyclone-driven winds, resulting in catastrophic flooding in Indonesia, Malaysia, Thailand, and Sri Lanka. The disaster has claimed more than 420 lives across these countries, with Sri Lanka alone reporting 123 fatalities. Tens of thousands have been displaced, and critical infrastructure has suffered significant damage.
In response to this crisis, Bybit is collaborating with the Central Bank of Sri Lanka (CBSL) to donate $100,000. This donation is intended to support relief operations, emergency shelters, and essential supplies for affected families. Bybit’s collaboration with CBSL aims to ensure that assistance reaches those in need and aligns with national priorities during this critical time.
“Our hearts are with the people of Sri Lanka and the wider South Asian region during this time of immense loss,” said Nazar Tymoshchuk, Bybit’s Mini-Global Regional Manager. “As communities face the aftermath of Cyclone Ditwah, we stand in solidarity with them and are committed to contributing to relief and recovery efforts together with credible local partners such as the CBSL.”
Sri Lanka has seen more than 44,000 people displaced, with widespread landslides, damaged transportation routes, and suspended public services. Rescue efforts are ongoing as authorities work to reach stranded citizens, restore power and communications, and prevent further losses amid continued rainfall forecasts.
Bybit’s contribution aims to support immediate necessities, including food, clean water, medical aid, temporary housing, and rehabilitation programs. The company reaffirms its long-term dedication to supporting communities globally in times of crisis through meaningful action and collaboration. More details about this initiative can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Bybit has pledged $100,000 in humanitarian aid to Sri Lanka, aiming to assist communities impacted by Cyclone Ditwah’s devastation across Southeast Asia.
Recent industry reports indicate that cryptocurrency philanthropy has become mainstream, with donations projected to reach $2.5 billion in 2025. This aligns with Bybit’s contribution, reflecting a broader trend of increasing crypto donations for humanitarian efforts.
Insights from Hope For Haiti’s CEO emphasize the role of blockchain in enhancing transparency and trust in disaster relief. This supports Bybit’s initiative, demonstrating how crypto can facilitate efficient aid distribution in crisis situations.
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