The co-founder of Binance, Changpeng “CZ” Zhao, makes a donation of 500 BNB (BNB) each to Thailand and Myanmar after an earthquake of magnitude 7.7 which caused serious damage to buildings and generalized floods.
Zhao plans to distribute the funds via Binance and Binance Thailand if an ONCHAIN TIERCE donation platform cannot be found to distribute the emergency funds in the event of a disaster.
“I hope everyone is safe in Thailand,” the founder of Binance wrote in a post X 28 March before announcing contributions to the two countries affected by the earthquake.
According to The Guardian, at least 144 people are confirmed to have died from the catastrophic earthquake while the first stakeholders in the two countries continue to save efforts to release people trapped under rubble.
Source: CZ
In relation: The Thailand regulator approves USDT, USDC Stablecoins
A disaster strikes Myanmar and Thailand
The earthquake struck on March 28 around 1:20 p.m. local time. The epicenter of the earthquake was about 10 miles from Mandalay – the second largest city in Myanmar.
The number of deaths in both countries is expected to increase as rescue efforts continue, 732 people were injured as a result of the earthquake.
The head of the Myanmar junta, Min Aung Hlaing, called for any country willing to help rescue efforts in the event of a disaster to provide any help it can.
Crypto donations amplify help in times of crisis
Cross-border efficiency, low transaction costs and almost instantaneous settlement times of cryptocurrencies make digital assets an ideal means for rescue funds in the event of a disaster.
After an earthquake of magnitude 7.8 which had an impact on Turkey and Syria in February 2023, the Philanthrope Haluk Levent began to collect aid donations in the event of a cryptographic disaster.
The block of donations, a company that works with non -profit organizations to facilitate cryptography donations, also used the crypto to raise funds for the victims of MAUI forest fires in 2023 and managed to give more than a million dollars to the rescue effort.
More recently, in January, the donation block launched an emergency fundraising for people affected by California forest fires in Los Angeles and the surrounding area.
When writing these lines, the organization raised more than a million dollars for California Wildfire Relief Fund.
Review: Crypto changes how humanitarian agencies provide help and services
