In response to the devastating 7.7 magnitude earthquake that hit the region on March 28, Binance co-founder Changpeng “CZ” Zhao has committed to donating 500 BNB, valued at approximately $605, to both Thailand and Myanmar. The earthquake caused severe flooding and significant infrastructure damage, especially in Myanmar, where the epicenter was located about 10 miles from Mandalay. In a post on X, Zhao expressed concern for those affected and stated that the donations would be managed through Binance and Binance Thailand. He mentioned that if a trusted third-party on-chain donation platform is not found, Binance will take charge of directly distributing the disaster relief funds.
According to The Guardian, the earthquake has already resulted in at least 144 deaths and injured over 700 people. Rescue teams in both countries are working to free those still trapped under the debris, and the death toll is expected to increase. Myanmar’s military leader, Min Aung Hlaing, has called for international assistance for relief efforts. The use of cryptocurrency in humanitarian aid is gaining traction due to its speed, transparency, and ability to bypass traditional banking systems. In past disasters, such as the 2023 earthquakes in Turkey and Syria, and the Maui wildfires, crypto-based platforms like The Giving Block have been instrumental in raising millions for relief efforts. The Giving Block has also launched an emergency fundraiser this year for California wildfire victims, raising over $1 million to date.
On Twitter, CZ shared, “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.”
