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03-04-2025 22:03
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Binance Co-founder CZ Donates 1,000 BNB to Thailand and Myanmar Earthquake Relief Efforts
Binance Co-founder and former CEO Changpeng Zhao (CZ) donated 1,000 BNB tokens (worth about $598,025) on April 3 to help Myanmar and Thailand recover from the recent earthquake. The funds will be split equally between these two Asian nations.
Both countries were struck by a magnitude 7.7 earthquake on March 28. The disaster destroyed infrastructure and claimed many lives throughout the region.
Binance Charity Launches $1.5 Million BNB Airdrop Alongside CZ’s Generous Contribution
Changpeng Zhao (CZ)’s donation of 500 BNB each to Myanmar and Thailand will go to providing immediate relief to those most affected by the disaster.
CZ 1,000 BNB Donation to Earthquake victim / Source: BSC Scan
Alongside his personal donation, the Binance Charity initiative will airdrop up to $1.5 million worth of BNB to users in Myanmar and Thailand identified as living in the affected areas.
Binance plans to distribute the funds by April 14, based on Know-Your-Customer (KYC) and Proof of Address mechanisms, ensuring that the aid reaches those most in need.
In Myanmar, each eligible Binance user who has completed KYC will receive $5 in BNB, with users from the most severely impacted areas receiving $50 in BNB.
This relief program applies specifically to Gulf Binance users in Thailand. It offers $5 in BNB for verified users and $10 for those in the hardest-hit areas.
CZ’s Continued Support for Humanitarian Causes Amid Growing Trend of Crypto Donations
This is not the first time CZ has given generous donations.
In February, Zhao pledged 150 BNB (worth $100,000) to victims of the Libra memecoin scam and traders affected by the crash of TST and BROCCOLI memecoins.
The former Binance CEO shared his donation address with the public, allowing the broader crypto community to contribute.
CZ’s charitable giving shows a growing trend in the cryptocurrency sector, withndustry leaders increasingly using digital assets for philanthropy.
For instance, Ethereum Co-founder Vitalik Buterin demonstrated this commitment in 2024. He converted $1.6 million worth of memecoins to Ether for donation purposes.
These funds supported several causes, including the development of anti-airborne disease technology.
Earlier this year, he allocated $170,000 to fund legal defense for Tornado Cash developers Roman Storm and Alexey Pertsev, who face charges related to their mixer platform.
Crypto Donations Soar in 2024
Total crypto donations made in 2024 exceeded $1 billion. This growth could be attributed to several factors. Chief of these are rising crypto prices and increased crytpo adoption.
The Giving Block reports that over 70% of major US charities now accept cryptocurrency donations.
The company’s research shows that stablecoins were 44% of all crypto donations made in 2023, while 2024 saw a mixture of assets (including Bitcoin and Solana).
The Giving Block expects crypto donations to reach $2.5 billion by 2025 as cryptocurrency continues to gain mainstream acceptance.
Frequently Asked Questions (FAQs)
How does CZ’s recent donation demonstrate the potential of cryptocurrency in disaster relief?
CZ’s donation shows the capability of crypto in providing quick aid during emergencies, which is lacking when traditional banking is employed. This is because crypto transactions are fast, regardless of the sender’s or receiver’s location.
What role does blockchain technology play in enhancing disaster response efforts?
Blockchain offers a decentralized and immutable ledger, which ensures the transparent tracking of aid distribution, reducing fraud, and increasing trust among donors and recipients.
How does Binance Charity’s Airdrop initiative support affected users in Myanmar and Thailand?
Binance Charity’s Airdrop provides direct financial assistance to verified users in the affected countries, facilitating immediate relief and recovery efforts through blockchain-based transactions.
The post Binance Co-founder CZ Donates 1,000 BNB to Thailand and Myanmar Earthquake Relief Efforts appeared first on Cryptonews.
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