Former Binance CEO Changpeng ‘CZ’ Zhao has contributed 1,000 BNB to support earthquake relief efforts in Myanmar and Thailand, coinciding with the initiation of a new program by Binance Charity.
In a recent update, the head of YZi Labs shared that he has honored his commitment to donate 500 BNB to each country’s relief initiatives. As reported on BSC Scan, Zhao’s contributions, amounting to approximately $598,025 in BNB, were made on April 3 at around 8:00 AM UTC.
Zhao’s donation is part of a broader initiative launched by Binance Charity aimed at distributing financial aid to individuals in Thailand and Myanmar impacted by the significant earthquake that struck on March 28.
On March 31, Binance Charity unveiled a plan to provide up to $1.5 million in BNB to users identified as residing in the affected regions of Myanmar and Thailand, utilizing identity verification data gathered from Know-Your-Customer and Proof of Address processes. Distribution of these funds is scheduled for completion by April 14.
As an integral aspect of this initiative, Zhao has vowed to donate 1,000 BNB to assist earthquake victims in both Myanmar and Thailand. He has encouraged others to participate in the relief effort by contributing to the funds aimed at helping those recovering from this disaster.
“In times of crisis, every moment is critical. Blockchain and digital assets have enabled an effective and efficient way to deliver financial assistance to those affected by disasters,” Zhao stated.
According to the announcement from Binance, every user in Myanmar who has completed KYC will receive $5 worth of BNB. Additionally, those who are in the hardest-hit areas will be eligible for $50 in BNB.
For Binance users in Thailand, the program applies specifically to those on the Gulf Binance platform who have completed their KYCs. Each of these users will receive $5 in BNB, while users in the most severely affected regions will be awarded $10 in BNB.
Following Zhao’s announcement on X, BNB experienced a slight decline of 0.68%, according to the latest data. The current valuation of BNB stands at $598.51.
Earlier this year, Zhao generously donated 150 BNB, valued at roughly $100,000 at the time, to individuals affected by the LIBRA memecoin scam. He also allocated a portion of his funds to assist traders who lost money during the TST and BROCCOLI memecoin crashes.