Binance co-founder Changpeng “CZ” Zhao has pledged to donate 500 BNB—valued at approximately $605 —to both Thailand and Myanmar in response to the devastating 7.7 magnitude earthquake that struck the region on March 28.
The quake caused widespread flooding and extensive damage to infrastructure, particularly in Myanmar, where the epicenter was located roughly 10 miles from Mandalay.
In a post on X, Zhao expressed concern for those affected and said the donations would be distributed through Binance and Binance Thailand.
CZ Says Binance Will Distribute Earthquake Relief Funds If No Trusted On-Chain Platform Found
He noted that if a reliable third-party on-chain donation platform is not identified, Binance will directly handle the distribution of the disaster relief funds.
According to The Guardian, the earthquake has already claimed at least 144 lives, with over 700 others injured.
Rescue teams in both countries are working to recover those still trapped beneath the rubble, and the death toll is expected to rise.
Myanmar’s military leader, Min Aung Hlaing, has publicly appealed for international assistance to aid in the relief efforts.
The use of cryptocurrency in humanitarian aid has gained traction due to its speed, transparency, and ability to bypass traditional banking infrastructure.
In previous disasters, such as the 2023 earthquakes in Turkey and Syria, and the Maui wildfires, crypto-based platforms like The Giving Block helped raise millions of dollars for relief.
The Giving Block has also launched an emergency fundraiser this year for victims of the California wildfires, raising over $1 million to date.
CZ’s Charity Backfires (in a Good Way)
Earlier this month, CZ pledged 150 BNB (around $100,000) to help victims of the now-defunct LIBRA meme coin—only to end up receiving more crypto than he gave.
Zhao’s donation came in response to a campaign started by a college student named EnHeng, who raised $50,000 to support over 40,000 investors impacted by LIBRA’s collapse.
The Solana-based token, promoted by Argentina’s President Javier Milei, briefly soared to a $4 billion market cap before crashing by 91%, wiping out billions in investor funds.
After Zhao publicly shared his donation wallet, crypto contributions poured in, surpassing his initial donation.
“When you give money away, you get more back,” CZ quipped on X.
However, he made it clear he would not keep any of the additional funds, promising to redirect them to other meme coin victims, including those scammed by TST and Broccoli—named after his dog.
Zhao emphasized his actions should not be seen as an endorsement of any meme coins.
Meanwhile, President Milei is under investigation in Argentina for his role in promoting LIBRA, which is now at the center of a growing legal scandal involving fraud, insider trading, and investor deception.
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