Binance co-founder Changpeng “CZ” Zhao is stepping in to support earthquake relief efforts in Thailand and Myanmar by offering 500 BNB in donations to each country. The donation follows a 7.7 magnitude earthquake that struck on March 28, leaving widespread destruction and hundreds of casualties. Zhao made the announcement in a March 28 X post , expressing his hope for the safety of everyone affected by the disaster. He revealed that Binance and Binance Thailand will facilitate the distribution of the funds unless a reliable third-party onchain donation platform can be found. The earthquake, which struck near Mandalay, Myanmar’s second-largest city, caused severe damage to buildings and triggered flooding in several regions. According to The Guardian, at least 144 people have been confirmed dead, with first responders racing against time to rescue individuals still trapped under the rubble. The number of fatalities is expected to rise, as reports indicate that 732 people have been injured. In the aftermath, Myanmar’s junta chief Min Aung Hlaing issued a plea for international assistance, calling on other countries to provide aid in the ongoing relief efforts. Crypto’s Growing Role in Global Crisis Relief Zhao’s donation highlights the growing role of cryptocurrencies in humanitarian aid , particularly during natural disasters. With their borderless nature, low transaction fees, and near-instant settlement times, crypto donations offer a fast and efficient means of providing financial support to disaster-stricken regions. This isn’t the first time crypto has played a key role in crisis relief. Following the 7.8 magnitude earthquake that devastated Turkey and Syria in February 2023, philanthropist Haluk Levent spearheaded a campaign to collect crypto donations, rapidly amassing significant funds for relief efforts. Crypto Donations Provide Rapid, Unrestricted Aid Similarly, The Giving Block, a platform dedicated to enabling crypto donations for nonprofit organizations, has facilitated several successful fundraising campaigns. In 2023, the platform helped raise over $1 million for victims of the Maui wildfires, and in January 2024, it launched an emergency relief fundraiser for those affected by the California wildfires, raising another $1 million. As Binance continues to use its influence to mobilize funds for crisis response, Zhao’s donation underscores how crypto can be a powerful tool for delivering direct and immediate aid. With the death toll from the Myanmar-Thailand earthquake expected to climb, the flexibility and efficiency of crypto donations could prove vital in providing relief to those in desperate need. The post Binance Announces 500 BNB in Donations to Thailand and Myanmar for Earthquake Relief appeared first on TheCoinrise.com .
