What Happened?
Zhao Changpeng (CZ) donated a substantial amount of BNB to support the post-earthquake relief efforts in Thailand and Myanmar. This action not only demonstrates the social responsibility of entrepreneurs but also highlights the role of cryptocurrency in emergency assistance. Cryptocurrency is playing an increasingly important role in disaster relief, as seen in the earthquakes in Turkey and Syria and the wildfires in Maui. These events illustrate how cryptocurrency has become an effective donation method due to its high cross-border efficiency, low transaction costs, and rapid settlement speed.
CZ Donates BNB for Disaster Relief in Thailand and Myanmar
Recently, a 7.7 magnitude earthquake severely impacted Thailand and Myanmar, resulting in significant casualties and property damage. In response to this sudden disaster, Binance co-founder Zhao Changpeng (CZ) promptly stepped in and announced that he would donate a large amount of the 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 hit by the 7.7 magnitude earthquake, to aid the post-disaster relief efforts in both countries. Based on the price at the time of the announcement, this donation amounts to 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
The tweet inspired many others to take action, including blockchain consultant and bestselling author Anndy Lian, who pledged to donate 44 BNB to a non-profit organization to assist with the disaster relief efforts in Myanmar, 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
This catastrophic earthquake occurred around 1:20 PM on March 28, with its epicenter located approximately 10 to 16 kilometers from Mandalay, Myanmar’s second-largest city. The earthquake caused severe damage to buildings. The Myanmar military government reported that, as of Sunday, the earthquake had resulted in approximately 1,700 deaths, 3,400 injuries, and over 300 people missing. Myanmar military government leader Min Aung Hlaing stated that as rescue efforts continue, the death toll may continue to rise, and he has rarely requested assistance from the international community.
Zhao Changpeng expressed his concern for the people of Thailand on the X platform and announced his donations to both Thailand and Myanmar. He stated that if a suitable third-party on-chain donation platform is not found, he would distribute the funds through Binance and its subsidiary in Thailand.
Why Use Cryptocurrency for Donations?
This is not the first case of disaster relief through cryptocurrency. For instance, 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 victims of the 2023 Maui wildfires and collected over $1 million for disaster relief efforts in California in January of this year.
Cryptocurrency donations demonstrate several unique advantages in emergency situations like disaster relief.
Advantage 1: High Cross-Border Efficiency
Firstly, cryptocurrency has a high cross-border efficiency that allows funds to be quickly sent from around the world to affected areas, breaking the geographical limitations of traditional banking systems.
Advantage 2: Lower Transaction Costs
Secondly, compared to traditional international remittances, cryptocurrency transaction costs are generally lower, meaning that a greater proportion of donations can actually be used to help those affected by disasters.
Advantage 3: Instant Settlement
Additionally, cryptocurrency transactions can almost achieve instant settlement, which is crucial for disaster victims who need rapid assistance.
These features make cryptocurrency a highly efficient, convenient, and cost-effective method of donation, providing strong support for relief efforts in critical times.
References: financemagnates, cointelegraph, ainvest