- CZ donated 1,000 BNB, valued at approximately $600,000, to aid earthquake victims in Myanmar and Thailand as part of Binance Charity’s relief initiative.
- Binance Charity is distributing up to $1.5 million in BNB to affected users through blockchain technology, using KYC verification to ensure fair distribution.
- This donation follows CZ’s history of philanthropic contributions, including aid to victims of crypto scams and financial losses in the Web3 space.
Changpeng ‘CZ’ Zhao, a former Binance CEO, has officially stepped up to support earthquake victims in Myanmar and Thailand by donating 1,000 BNB, which is worth approximately $600,00. This is as a response to Binance Charity’s recent initiative aimed at aiding those affected by the devastating earthquake on March 28
CZ $600K BNB Donation for Earthquake Relief
Zhao, now the head of YZi Labs, has confirmed his pledge to donate 500 BNB to Myanmar and another 500 BNB to Thailand In a social media post. Also, a blockchain data released on April 3 reported that CZ donated a large amount of BNB worth $598,025 approximately 8:00 AM UTC.
His contribution is in alignment with Binance Charity’s ongoing relief efforts, which is aimed to distribute up to $1.5 million worth of BNB to affected users in both countries. The funds are expected to reach eligible recipients by April 14.
How Binance Charity is Supporting Victims
Binance Charity’s program is utilizing Blockchain technology to aid in quick and efficient distribution of aid. The initiative uses know-your-customer (KYC) and proof of Address verification tomodemtify eligible Binance users in the disaster-stricken areas under the program.
- Verified Binance users in Myanmar will receive $5 worth of BNB, while those in the most impacted areas will receive $50 each.
- In Thailand, only Gulf Binance users who have completed KYC are eligible, with standard recipients receiving $5 and those in highly impacted regions receiving $10 in BNB.
“In times of crisis, every second counts. Blockchain and digital assets have provided an effective and efficient means of delivering financial aid to disaster victims,” CZ stated, encouraging others to contribute to the relief efforts. Shortly after CZ’s announcement, BNB’s price saw a slight dip of 0.68%, with the token trading at $598.51, according to crypto.news.
This donation follows previous philanthropic efforts by Zhao, including a 150 BNB contribution earlier this year to victims of the LIBRA memecoin scam, as well as donations to traders affected by the collapse of TST and BROCCOLI memecoins.
