Binance co-founder and former CEO Changpeng Zhao announced on social media platform X his intention to donate $1 million received from the crypto community.
The Story of the Donation
Initially, Zhao donated $100,000 to support victims of the fraudulent Libra project linked to the Argentine President. However, the initiative gained unexpected momentum: the crypto community sent over $1 million to Zhao's wallet in gratitude for his support.
The Community's Reaction
The community actively discussed Zhao's initiative, with many users commending his efforts to help. However, he noted that discussions on social media had to be limited due to a large amount of spam.
Possible Ways to Use the Funds
Zhao is considering various options for using the funds, from charity to adding market liquidity. He emphasized the importance of transparency and openness in charitable organizations for tracking expenditures.
Zhao continues to explore ways to use the raised funds, remaining committed to helping people through the crypto community.
