Binance co-founder Changpeng “CZ” Zhao is donating 500 BNB to each of Thailand and Myanmar, a total of $624,366.5, in response to the 7.7 magnitude earthquake that occurred on March 28. The earthquake led to the destruction of structures and floods; the worst affected area was near Mandalay, which is Myanmar’s second largest city.
Zhao made the announcement through a post on X, where he wished for the safety of the people in Thailand. He will disburse the funds through Binance and Binance Thailand if there is not an on-chain third-party donation platform that can be used for the funds. His donation is to support both countries where at least 144 people have been confirmed dead while hundreds of others are injured. More people are likely to die as the rescue workers continue searching for the bodies.
The epicenter of the earthquake was only 16 kilometers from Mandalay, and Myanmar’s head of state, Min Aung Hlaing, has urged the international community to help the country in this regard. Crypto donations are increasingly being used in disaster relief since they are relatively cheaper and quick to process. The same was the case in previous disasters, including the 2023 Turkey-Syria earthquake and the Maui wildfires, where crypto donations were used to raise millions.
For instance, The Giving Block successfully raised over $1 million for the Maui relief efforts and proved that cryptocurrencies can be very useful in providing timely aid during calamities. The donation by CZ reflects how the use of blockchain and crypto can bring about a positive change in the world.