In the aftermath of a devastating earthquake in Myanmar and Thailand, Binance co-founder Changpeng Zhao announced substantial aid to the affected regions.
The Earthquake and Its Consequences
On March 28, a 7.7 magnitude earthquake struck near Mandalay, causing destruction and flooding. Mandalay, Myanmar's second-largest city, was the worst-hit area. Preliminary reports confirm 144 deaths and hundreds injured.
Changpeng Zhao's Donation
Changpeng Zhao, co-founder of Binance, announced on social media his plan to donate 500 BNB worth $306,845 to those affected by the earthquake. In the absence of a transparent DID donation platform, the funds will be distributed through Binance and Binance Thailand.
The Role of Cryptocurrency in Aid
Cryptocurrency donations are increasingly used in disaster relief due to their speed and low cost. Past examples include aid following the 2023 Turkey-Syria earthquake and the Maui wildfires, proving the effectiveness of crypto in providing timely support.
Changpeng Zhao's donation underscores the potential of blockchain and cryptocurrency in global aid efforts, especially amid natural disasters when support is critically needed.
