Source: Cointelegraph Original: "{title}"
Binance co-founder Changpeng Zhao (CZ) donated over $500,000 worth of cryptocurrency to the earthquake disaster areas in Thailand and Myanmar, once again demonstrating the practicality of blockchain technology in emergency charitable actions.
Blockchain data shows that these tokens were valued at nearly $600,000 and were donated to the disaster relief fund in the region on March 3.
Zhao donated 1,000 BNB. Source: BscScan
"I donated 1,000 BNB for relief in Myanmar and Thailand," Zhao wrote in a post on X on April 3.
This cryptocurrency donation was made after a 7.7 magnitude earthquake struck Thailand and Myanmar on March 28, causing severe damage to buildings and widespread flooding. According to the latest data from Reuters, Myanmar has confirmed 2,719 deaths, while Thailand has reported 18 deaths and 76 people still missing.
About a week after Zhao pledged to donate 500 BNB for relief, he doubled his initial commitment and donated $600,000. Donations based on cryptocurrency have become an important means of aid in the region due to banking restrictions caused by damaged banking infrastructure.
Source: The Giving Block
Cryptocurrency donations exceeded $1 billion in 2024, thanks to rising valuations of digital assets and increasingly clear cryptocurrency regulations. About 16% of donations were allocated to education, while 14% went to medical and health-related work.
The Giving Block has launched a cryptocurrency-based emergency relief operation for Myanmar and Thailand, aiming to raise $500,000 for the affected areas.
Source: The Giving Block
The organization expects that due to the growth of cryptocurrency wealth and a more favorable political environment driving increased adoption, cryptocurrency donations will reach $2.5 billion by 2025.
According to intergovernmental blockchain expert and author Anndy Lian, CZ's donation proves that cryptocurrency is playing an increasingly important role in humanitarian aid.
"Compared to traditional fiat donations, cryptocurrency donations have unique advantages in emergencies," Lian said in an interview with Cointelegraph, adding:
"Speed is a key factor—transactions on the blockchain network can settle within minutes, bypassing delays from banks or intermediaries, which is crucial when time is of the essence."
"In disaster-stricken areas like Myanmar or Thailand, even if infrastructure may be damaged, cryptocurrency can reach recipients directly through digital wallets without the need for SWIFT codes or wire transfers," Lian explained.
Source: Anndy Lian
Lian also donated 44 BNB for relief efforts in Myanmar and Thailand, a move that received public praise from CZ.
Ethereum co-founder Vitalik Buterin is known for his cryptocurrency donations. Last October, Vitalik donated over $180,000 worth of Ethereum (ETH) to the biotechnology charity Kanro.
Related: How to use cryptocurrency to send remittances to family and friends abroad?
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