Key Takeaways
- The funds will be split equally between the two countries, with 500 BNB allocated to each.
- Zhao stated that he intends to distribute the funds through Binance Thailand or other Binance platforms unless a suitable on-chain donation system can be identified.
Binance co-founder Changpeng Zhao (CZ) has announced a donation of 1,000 BNB, valued at approximately $500,000, for disaster relief in Thailand and Myanmar following a 7.7-magnitude earthquake. The funds will be split equally between the two countries, with 500 BNB allocated to each.
The earthquake struck on March 28 at around 1:20 PM local time, with its epicenter located about 10 miles from Mandalay, Myanmar’s second-largest city. The disaster caused extensive damage to infrastructure and triggered flooding in affected areas. Authorities in both countries continue to assess the impact, with the death toll expected to rise.
Zhao stated that he intends to distribute the funds through Binance Thailand or other Binance platforms unless a suitable on-chain donation system can be identified. “I will donate 500 BNB each to Myanmar and Thailand. Is there a transparent on-chain donation system with DID? If not, I will rely on @Binance and @Binance_TH_ to distribute,” he wrote in a March 28 post on X.
Myanmar’s military leader Min Aung Hlaing has requested international aid to support relief efforts. The extent of the damage is still being evaluated as emergency response teams work to assist affected communities.
The use of crypto for disaster relief has increased in recent years due to its speed and efficiency in cross-border transactions. Crypto-based donations have been used in past crises, including the 2023 Turkey-Syria earthquake, where philanthropist Haluk Levent facilitated crypto contributions. Platforms like The Giving Block have also helped raise funds for disaster-affected areas, including the Maui wildfires and the California wildfires.
This is not the first time Zhao has made donations for crisis relief. He previously contributed 150 BNB (around $100,000 at the time) to compensate investors affected by the collapse of the Libra crypto project, which was endorsed by Argentina’s President Javier Milei.
