Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at how former Binance CEO CZ has pledged to donate 500 BNB to each of Thailand and Myanmar followed the recent earthquake.
CZ to Donate 500 BNB Each to Thailand and Myanmar
Binance co-founder Changpeng "CZ" Zhao has announced he will be donating 500 BNB, roughly worth around $595 per BNB at the time of writing, to both of Thailand and Myanmar in response to the 7.7 magnitude earthquake on the 28th of March. This earthquake has caused widespread flooding and damage to infrastructure, while also a significant loss of life. CZ expressed his concern for all impacted in a recent post on X.
He went on to state that unless a reliable third-party online donation platform is identified, Binance will handle the distribution of disaster relief funds directly. With rescue teams in both nations working to save the lives of those who are still trapped under rubble, the leader of the Myanmar military, Min Aung Hlaing, has publicly called for international support for relief efforts.
Over recent years cryptocurrency has become a popular form of donation for humanitarian aid. This is mainly due to its speed, transparency, and ability to bypass traditional banking infrastructure. Zhao plans to distribute the funds through Binance and Binance Thailand, although other platforms such as The Giving Block are often used for charitable donations. Previous disasters, such as the 2023 earthquake in Turkey and Syria, and the wildfires in Maui, saw cryptocurrency used for donations on The Giving Block. So far this year The Giving Block has managed to raise over $1 million for the victims of the wildfires in California.
While the donation of BNB is very thoughtful from CZ, the crypto market remains bearish. The price of BNB dropped below its support as bears push the price downwards. The price had surged on the 29th of March but is trending downwards. A clearer trend is yet to emerge as market sentiment and trading volume will continue to play a key role in the price direction.
Earlier this month CZ also pledged 150 BNB for the victims of the now-defunct meme coin LIBRA. His donation was made as a response to the campaign initiated by a student named EnHeng, who raised $50,000 to support more than 40,000 investors affected by the collapse of LIBRA. The token had been endorsed by Argentine President Javier Milei and saw a surge in price before crashing more than 91%. After Zhao publicly shared his donation wallet, the amount of cryptocurrency contributions increased, surpassing his initial donations, and potentially a similar trend could follow suit here. He made it clear he would not keep any of the remaining funds, and promised to transfer the money to other victims of the memecoin.
The earthquake which has decimated the lives of and resulted in the death of at least 3,000 people is the most powerful earthquake to have hit Myanmar since 1912 and so far is the second deadliest in the country's modern history. As rescue efforts continue, a list of some organisations which accept crypto as donations are as follows:
- Red Cross (BTC, BCH, ETH, select stablecoins via BitPay)
- Save the Children (Bitcoin, Ethereum, USDC)
- British Red Cross (over 70 cryptocurrencies and tokens)
- UNICEF (Bitcoin and Ethereum)
- Doctors Without Borders (via The Giving Block)
Have a great day.
Peace. CryptoGod-1.
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