Binance co-founder Changpeng “CZ” Zhao is donating 500 BNB to every of Thailand and Myanmar, a complete of $624,366.5, in response to the 7.7 magnitude earthquake that occurred on March 28.
The earthquake led to the destruction of buildings and floods; the worst affected space was close to Mandalay, which is Myanmar’s second largest metropolis.
Zhao made the announcement via a publish on X, the place he wished for the security of the individuals in Thailand. He’ll disburse the funds via Binance and Binance Thailand if there may be not an on-chain third-party donation platform that can be utilized for the funds.
His donation is to help each nations the place not less than 144 individuals have been confirmed useless whereas lots of of others are injured. Extra individuals are more likely to die because the rescue staff proceed trying to find the our bodies.
The epicenter of the earthquake was solely 16 kilometers from Mandalay, and Myanmar’s head of state, Min Aung Hlaing, has urged the worldwide neighborhood to assist the nation on this regard. Crypto donations are more and more being utilized in catastrophe reduction since they’re comparatively cheaper and fast to course of.
The identical was the case in earlier disasters, together with the 2023 Turkey-Syria earthquake and the Maui wildfires, the place crypto donations had been used to boost hundreds of thousands.
As an example, The Giving Block efficiently raised over $1 million for the Maui reduction efforts and proved that cryptocurrencies might be very helpful in offering well timed support throughout calamities.
The donation by CZ displays how the usage of blockchain and crypto can carry a few constructive change on the earth.
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