Changpeng ‘CZ’ Zhao Donates 1,000 BNB (Worth $600K) to Myanmar and Thailand Earthquake Victims

Former Binance CEO Changpeng ‘CZ’ Zhao has officially stepped up to support earthquake victims in Myanmar and Thailand

Changpeng "CZ" Zhao, the former CEO of Binance and the current head of YZi Labs, has officially stepped up to support earthquake victims in Myanmar and Thailand by donating 1,000 BNB, which is worth approximately $600,000. This is as a response to Binance Charity’s recent initiative aimed at aiding those affected by the devastating earthquake on March 28.

Zhao announced his pledge to donate 500 BNB to Myanmar and another 500 BNB to Thailand in a recent social media post. Also, a blockchain data released on April 3 reported that Zhao donated a large amount of BNB worth $598,025 at 8:00 AM UTC.

In response to the catastrophic earthquake that hit Myanmar and the surrounding regions including Thailand, #binance Charity, supported by Binance co-founder CZ, will launch a joint donation to distribute $1.5M in BNB token vouchers to users affected by tragedy in Myanmar and… pic.twitter.com/Z7SZfzRhRn

— Binance Charity (@BinanceCharity) April 1, 2024

His contribution is in alignment with Binance Charity’s ongoing relief efforts, which is aimed to distribute up to $1.5 million in BNB to affected users in both countries. The funds are expected to reach eligible recipients by April 14.

The charity’s program is integrating Blockchain technology to aid in swift and efficient distribution of aid. The initiative uses know-your-customer (KYC) and proof of Address verification to identify eligible Binance users in the disaster-stricken areas under the program.

“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,” Zhao stated, encouraging others to contribute to the relief efforts.

Shortly after Zhao’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.