The co-founder of Binance, Changpeng “CZ” Zhao, donated crypto value over half one million dollars for the facilitating of earthquakes in Thailand and Myanmar, in an additional evidence of the growing good thing about blockchain-based emergency efforts.
On March 3, Zhao donated 1,000 BNB (BNB) token value almost 600,000 USD for disaster aid for the region, as Blockchain data show.
ZHAO donates 1,000 BNB. Source: BSCSCAN
“Sent 1000 BNB for the donation for Myanmar and Thailand,” wrote Zhao in a post on April 3.
The crypto donation was made after Thailand and Myanmar were hit by an earthquake of seven.7 magnitude on March 28, which led to serious damage to buildings and widespread floods.
At least 2,719 people were confirmed dead in Myanmar and 18 in Thailand. According to the most recent figures that Reuters have shared, 76 people weren’t taken under consideration.
The donation of 600,000 US dollars is nearly every week after Zhao committed to donate 500 BNB for the help measures, an initial obligation that he doubled. Donations based on cryptocurrency have proven to be significant lifeline for the region as a consequence of bank restrictions attributable to damaged infrastructure.
Source: give the block
The crypto donations exceeded 1 billion US dollars in 2024, which was promoted by increasing the rankings of digital wealth and growth within the clarity of the crypto regulation. About 16% of the donations went towards education, while 14% went to medical and health -related efforts.
For Myanmar and Thailand, the Giving Block has launched a crypto-based emergency assistance to gather $ 500,000 for the destroyed region.
Source: Thegiving block
The organization expects crypto donations to realize 2.5 billion US dollars for the cultivation of crypto -assets and increasing adoption as a consequence of a less expensive political landscape in 2025.
Crypto donations change into emergency aid as a part of the emergency efforts
According to Anndy Lian, writer and intergovernmental blockchain expert, Zhao's donation is proof of the growing role of cryptocurrency in humanitarian aid.
“Compared to traditional Fiat contributions, crypto donations offer unique benefits, especially in emergencies,” Lian told CoinTelegraph and added:
“Speed ​​is a key factor – transactions in blockchain networks can settle in minutes and take care of the delays of banks or intermediaries, which is critical when time saves life.”
“In areas affected by disasters akin to Myanmar or Thailand, by which the infrastructure will be affected, Krypto recipients can need no Swift codes or cable transmissions directly via digital wallets,” said Lian.
Source: Anndy Lian
Lian also donated 44 BNB tokens for the help measures in Myanmar and Thailand, a step that was publicly praised by Zhao.
The co -founder of Ethereum Vitalik Buterin is thought for his crypto donations. In October, the Laberin donated the Kanro to over 180,000 US dollars (Ether (Eth).
