What Happened?
Zhao Changpeng (CZ) donated a significant amount of BNB to support earthquake disaster relief efforts in Thailand and Myanmar. This act not only demonstrates the social responsibility of entrepreneurs but also highlights the role of cryptocurrency in emergency assistance. Cryptocurrency has been playing an increasingly important role in disaster relief, as seen in the recent earthquakes in Turkey and Syria, and the wildfires in Maui, which showcase the advantages of cryptocurrency—such as high cross-border efficiency, low transaction costs, and fast settlement speeds—making it an effective way to contribute donations.
Zhao Changpeng Donates BNB for Disaster Relief in Thailand and Myanmar
Recently, a powerful 7.7 magnitude earthquake struck Thailand and Myanmar, causing severe casualties and property damage. In response to this sudden disaster, Binance co-founder Zhao Changpeng (CZ) quickly extended a helping hand, announcing that he would donate a large amount of cryptocurrency BNB to support the relief efforts in both countries. On March 28, Binance co-founder Zhao Changpeng posted on social media platform X, announcing that he would donate 500 BNB each to Thailand and Myanmar, which were affected by the 7.7 magnitude earthquake, to support the post-disaster relief efforts. Based on the price at the time of the announcement, this donation was approximately $624,366.
I will donate 500 BNB each to Myanmar and Thailand.
Is there a transparent on-chain donation system with DID? If not, I will rely on @Binance and @Binance_TH to distribute.— CZ BNB (@cz_binance) March 28, 2025
Following the tweet, many businesses were inspired to take action, including blockchain consultant and bestselling author Anndy Lian, who pledged to provide 44 BNB to a non-profit organization to assist with Myanmar’s disaster relief efforts, urging his followers to contribute as well.
I will donate 44 $BNB to NPO to help #Myanmar. Earthquake death toll rises to 1,644 amid race to find survivors.
Follow @cz_binance, and I – urge you all to help and do your bit, too. https://t.co/g83cvbXVFG— Anndy Lian (@anndylian) March 29, 2025
The catastrophic earthquake occurred around 1:20 PM on March 28, with its epicenter located approximately 10 to 16 kilometers near the city of Mandalay, Myanmar’s second-largest city. The earthquake caused severe damage to buildings, and the Myanmar military government reported that as of Sunday, the quake had caused about 1,700 deaths, 3,400 injuries, and over 300 missing persons. Myanmar’s military government leader Min Aung Hlaing stated that with the ongoing rescue efforts, the death toll could continue to rise, and he rarely requested assistance from the international community.
Zhao Changpeng expressed his concern for the Thai people on platform X and announced his donations to both Thailand and Myanmar. He mentioned that if a suitable third-party on-chain donation platform could not be found, he would distribute the donations through Binance and its Thailand subsidiary.
Why Use Cryptocurrency for Donations?
This is not the first instance of disaster relief via cryptocurrency; for example, after the 7.8 magnitude earthquake in Turkey and Syria in 2023, philanthropist Haluk Levent began accepting cryptocurrency donations. Additionally, The Giving Block, a company specializing in assisting non-profit organizations with cryptocurrency donations, raised over $1 million for the victims of the Maui wildfires in 2023 and raised more than $1 million for California wildfire relief efforts in January this year.
Cryptocurrency donations demonstrate several unique advantages in emergency situations such as disaster relief:
Advantage 1: High Cross-Border Efficiency
Firstly, the cross-border efficiency of cryptocurrencies is extremely high, allowing funds to be quickly sent from around the world to disaster-stricken areas, breaking the geographical limitations of traditional banking systems.
Advantage 2: Lower Transaction Costs
Secondly, compared to traditional international remittances, cryptocurrency transaction costs are typically lower, meaning a larger proportion of the donations can genuinely be used to assist disaster-affected individuals.
Advantage 3: Instant Settlement
Additionally, cryptocurrency transactions can almost achieve instant settlement, which is crucial for disaster victims who need rapid assistance.
These characteristics make cryptocurrency an efficient, convenient, and cost-effective method of donation, providing robust support for relief efforts at critical moments.
References: financemagnates, cointelegraph, ainvest