Binance co-founder Changpeng Zhao (CZ) has promised to donate 500 BNB each to Myanmar and Thailand after a devastating earthquake struck both countries. According to CZ, the funds will be meant as a support to relieve those affected by the 7.7 magnitude earthquake on March 28.
According to reports, the earthquake struck on March 28 at approximately 1:20 PM local time, with its epicenter about 10 miles from Mandalay, the second-largest city in Myanmar. The humanitarian crisis in the country is dire with reports mentioning that the death toll has risen to 144, with about 700 people injured and properties lost.
The magnitude of the loss has prompted calls for international assistance.
Binance co-founder promises aid to affected countries
In the wake of the earthquake, Myanmar’s junta chief, Min Aung Hlaing urged nations globally to provide any available aid to support relief efforts, highlighting the need for urgent support in the country. While rescue efforts are still ongoing, the former Binance CEO took to his X account to wish the people of both countries well, while promising to make sizable donations to alleviate the effects of the earthquake.
In his post on X, CZ mentioned that he wants to donate 500 BNB each to both Myanmar and Thailand, asking his 10 million followers the best method to send the funds. “I will donate 500 BNB each to Myanmar and Thailand. Is there a transparent on-chain donation system with DID? If not, I will rely on @Binance and @Binance_TH_ to distribute,” he said.
I will donate 500 BNB each to Myanmar and Thailand.
Is there a transparent on-chain donation system with DID? If not, I will rely on @Binance and @Binance_TH_ to distribute.
— CZ 🔶 BNB (@cz_binance) March 28, 2025
Some of his followers gave their opinion on the method to move the funds to the affected victims. While some agreed that a transparent DID system would be good, others mentioned that using Binance for the distribution would be a good idea.
“This is incredibly generous respect! If there’s a transparent DID-based system, that would be amazing for accountability. Otherwise, trusting Binance for distribution sounds like a solid plan. Thank you for supporting the people of Myanmar and Thailand!” a user said.
Donation shows the importance of crypto during crises
This is not the first time that the former Binance boss will be donating to victims affected by mishap as he previously donated $100,000 (150 BNB) to the victims of the Javier Milei-endorsed rug pull Libra. Investors suffered huge losses after the project collapsed within hours of launch after enjoying huge patronage after an endorsement made by the president of Argentina. In turn, the wallet he used to donate was rewarded with up to $1 million in several digital assets.
The current crisis has opened up the transformative role of digital assets in times of disaster relief. Aside from the cross-border efficiencies, transactions using digital assets are near-instant, and cost less, making it the ideal method to provide aid during a crisis.
Aside from the current crisis, previous ones have shown the power of digital assets, with the February 2023 earthquake affecting Turkey and Syria as good examples. Crypto donations were led by philanthropist Haluk Levent to assist victims of the earthquake.
A notable organization in this aspect, The Giving Block, has successfully raised funds for various disaster relief initiatives, including over $1 million raised for wildfire victims in Maui in 2023. The group also mobilized support for victims of the California wildfires, raising more than $1 million since January 2023. The efforts highlight the growing trend of using digital assets in crises.
While the financial landscape continues to evolve, the integration of digital assets into traditional finance may well help humanitarian efforts, changing the way funding is carried out. While established platforms continue to facilitate these donations, the crypto sector stands as a force that will help these platforms reach their goals faster during crises. However, organizations will need to seek credible partnerships to achieve this positive effort.
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