Binance co-founder Changpeng “CZ” Zhao is donating 500 BNB (BNB) every to Thailand and Myanmar following a 7.7 magnitude earthquake that precipitated extreme harm to buildings and widespread flooding.
Zhao plans to distribute the funds by Binance and Binance Thailand if a third-party onchain donation platform can’t be discovered to distribute the catastrophe aid funds.
“I hope everyone seems to be secure in Thailand,” the Binance founder wrote in a March 28 X post earlier than asserting the contributions to each international locations affected by the earthquake.
In line with The Guardian, no less than 144 individuals are confirmed to have died on account of the catastrophic earthquake as first responders in each international locations proceed rescue efforts to free folks trapped below rubble.
Supply: CZ
Associated: Thailand regulator approves USDT, USDC stablecoins
Catastrophe strikes Myanmar and Thailand
The earthquake struck on March 28 at roughly 1:20 PM native time. The epicenter of the earthquake was roughly 10 miles from Mandalay — the second-largest metropolis in Myanmar.
The loss of life toll in each international locations is anticipated to rise as aid efforts proceed, with 732 people reportedly injured on account of the earthquake.
Myanmar’s junta chief Min Aung Hlaing has known as upon any nation keen to assist with the catastrophe aid efforts to offer any assist it might probably.
Crypto donations amplify assist throughout occasions of disaster
The cross-border efficiencies, low transaction prices, and near-instant settlement occasions of cryptocurrencies make digital belongings a great medium for catastrophe aid funds.
Following a 7.8 magnitude earthquake that impacted Turkey and Syria in February 2023, philanthropist Haluk Levent started collecting crypto disaster relief donations.
The Giving Block, an organization that works with nonprofit organizations to facilitate crypto donations, additionally used crypto to raise funds for the victims of the Maui wildfires in 2023 and managed to offer over $1 million to the aid effort.
Extra not too long ago, in January, The Giving Block began an emergency relief fundraiser for these impacted by the California wildfires in Los Angeles and the encompassing areas.
On the time of this writing, the group has raised over $1 million for the California wildfire aid fund.
Journal: Crypto is changing how humanitarian agencies deliver aid and services
