Binance co-founder Changpeng ‘CZ’ Zhao announced plans to donate 500 BNB to Thailand and Myanmar following a devastating earthquake. The funds will be distributed through Binance and Binance Thailand if no suitable on-chain donation platform is available.
Changpeng Zhao's Contribution
In a March 28 X post, Changpeng Zhao expressed hope for the safety of everyone in Thailand and announced the company's plans to aid both countries affected by the earthquake.
Situation in Thailand and Myanmar
The earthquake occurred on March 28 at around 1:20 PM local time, with its epicenter about 16 km from Mandalay, Myanmar's second-largest city. At least 144 people have been confirmed dead, and 732 were injured. Myanmar’s junta leader Min Aung Hlaing has appealed for international assistance in disaster relief.
Role of Cryptocurrencies in Aid
Cryptocurrencies have proven to be an effective tool for disaster relief due to their ease of cross-border use, low costs, and quick settlement. Examples include Vitalik Buterin's donation in 2021 and various other initiatives demonstrating the crypto industry's contribution to humanitarian aid.
Cryptocurrency donations are becoming a key component in providing flexible and prompt assistance during crises. This ensures more effective humanitarian aid on a global scale.
