Binance co-founder Changpeng “CZ” Zhao has pledged to donate 500 BNB—valued at roughly $605 —to each Thailand and Myanmar in response to the devastating 7.7 magnitude earthquake that struck the area on March 28.
The quake induced widespread flooding and in depth injury to infrastructure, significantly in Myanmar, the place the epicenter was situated roughly 10 miles from Mandalay.
In a submit on X, Zhao expressed concern for these affected and stated the donations can be distributed by Binance and Binance Thailand.
CZ Says Binance Will Distribute Earthquake Reduction Funds If No Trusted On-Chain Platform Discovered
He famous that if a dependable third-party on-chain donation platform is just not recognized, Binance will straight deal with the distribution of the catastrophe aid funds.
I’ll donate 500 BNB every to Myanmar and Thailand.
Is there a clear on-chain donation system with DID? If not, I’ll depend on @Binance and @Binance_TH_ to distribute.— CZ
BNB (@cz_binance) March 28, 2025
Based on The Guardian, the earthquake has already claimed not less than 144 lives, with over 700 others injured.
Rescue groups in each nations are working to recuperate these nonetheless trapped beneath the rubble, and the dying toll is predicted to rise.
Myanmar’s navy chief, Min Aung Hlaing, has publicly appealed for worldwide help to help within the aid efforts.
Using cryptocurrency in humanitarian assist has gained traction on account of its velocity, transparency, and skill to bypass conventional banking infrastructure.
In earlier disasters, such because the 2023 earthquakes in Turkey and Syria, and the Maui wildfires, crypto-based platforms like The Giving Block helped increase thousands and thousands of {dollars} for aid.
The Giving Block has additionally launched an emergency fundraiser this yr for victims of the California wildfires, elevating over $1 million thus far.
CZ’s Charity Backfires (in a Good Method)
Earlier this month, CZ pledged 150 BNB (round $100,000) to assist victims of the now-defunct LIBRA meme coin—solely to finish up receiving extra crypto than he gave.
Zhao’s donation got here in response to a marketing campaign began by a university pupil named EnHeng, who raised $50,000 to help over 40,000 traders impacted by LIBRA’s collapse.
The Solana-based token, promoted by Argentina’s President Javier Milei, briefly soared to a $4 billion market cap earlier than crashing by 91%, wiping out billions in investor funds.
After Zhao publicly shared his donation pockets, crypto contributions poured in, surpassing his preliminary donation.
“While you give cash away, you get extra again,” CZ quipped on X.
Nonetheless, he made it clear he wouldn’t preserve any of the extra funds, promising to redirect them to different meme coin victims, together with these scammed by TST and Broccoli—named after his canine.
Zhao emphasised his actions shouldn’t be seen as an endorsement of any meme cash.
In the meantime, President Milei is below investigation in Argentina for his position in selling LIBRA, which is now on the middle of a rising authorized scandal involving fraud, insider buying and selling, and investor deception.
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