Binance's Zhao Donates $624K in BNB for Thailand and Myanmar Earthquake Relief

Sunday, 30/03/2025 | 07:19 GMT by Tareq Sikder
  • A 7.7-magnitude earthquake struck on March 28, Officials have confirmed at least 1600 deaths.
  • Crypto donations are growing in disaster relief, as seen in the Turkey-Syria earthquake and Maui wildfires.
Crypto-king - Edited
Binance CEO Changpeng Zhao (Source: PC Tech Mag)

Binance Co-Founder Changpeng Zhao has announced a donation of 500 BNB to each of Thailand and Myanmar. The total donation amounts to $624,366.5. The funds are intended to support relief efforts after a 7.7-magnitude earthquake struck the region on March 28.

The earthquake caused severe destruction and flooding. The worst-affected area was near Mandalay, Myanmar’s second-largest city. Officials have confirmed at least 1600 deaths, with hundreds injured. The death toll may rise as rescue operations continue.

Myanmar Seeks Aid After Devastating Quake

Zhao made the donation announcement on X. He stated that the funds would be distributed through Binance and Binance Thailand unless an on-chain third-party donation platform is available.

Myanmar’s junta leader, Min Aung Hlaing, has appealed for international aid. The earthquake’s epicenter was about 16 kilometers from Mandalay.

Crypto Funded Maui, Turkey-Syria Relief

Cryptocurrency donations have been used in previous disaster relief efforts. In 2023, The Giving Block raised over $1 million for victims of the Maui wildfires. Following the Turkey-Syria earthquake in 2023, crypto donations played a key role in raising funds.

Cryptocurrencies provide a fast and cost-effective way to transfer funds across borders. Their use in disaster relief efforts has grown in recent years.

Zhao Restructures Binance Labs into YZi

After his prison release, Zhao, known as “CZ,” is restructuring his business operations. His net worth, estimated at $70 billion. This has led to the transformation of Binance Holdings Ltd's former venture capital arm, Binance Labs, into a family office now named YZi Labs, as reported by Finance Magnates.

Managing approximately $10 billion in crypto assets, YZi Labs will also oversee Zhao and co-founder Yi He’s wealth. The firm plans to expand its investment focus beyond crypto into AI and biotechnology while growing its team.

Binance Co-Founder Changpeng Zhao has announced a donation of 500 BNB to each of Thailand and Myanmar. The total donation amounts to $624,366.5. The funds are intended to support relief efforts after a 7.7-magnitude earthquake struck the region on March 28.

The earthquake caused severe destruction and flooding. The worst-affected area was near Mandalay, Myanmar’s second-largest city. Officials have confirmed at least 1600 deaths, with hundreds injured. The death toll may rise as rescue operations continue.

Myanmar Seeks Aid After Devastating Quake

Zhao made the donation announcement on X. He stated that the funds would be distributed through Binance and Binance Thailand unless an on-chain third-party donation platform is available.

Myanmar’s junta leader, Min Aung Hlaing, has appealed for international aid. The earthquake’s epicenter was about 16 kilometers from Mandalay.

Crypto Funded Maui, Turkey-Syria Relief

Cryptocurrency donations have been used in previous disaster relief efforts. In 2023, The Giving Block raised over $1 million for victims of the Maui wildfires. Following the Turkey-Syria earthquake in 2023, crypto donations played a key role in raising funds.

Cryptocurrencies provide a fast and cost-effective way to transfer funds across borders. Their use in disaster relief efforts has grown in recent years.

Zhao Restructures Binance Labs into YZi

After his prison release, Zhao, known as “CZ,” is restructuring his business operations. His net worth, estimated at $70 billion. This has led to the transformation of Binance Holdings Ltd's former venture capital arm, Binance Labs, into a family office now named YZi Labs, as reported by Finance Magnates.

Managing approximately $10 billion in crypto assets, YZi Labs will also oversee Zhao and co-founder Yi He’s wealth. The firm plans to expand its investment focus beyond crypto into AI and biotechnology while growing its team.

About the Author: Tareq Sikder
Tareq Sikder
  • 1989 Articles
  • 32 Followers
About the Author: Tareq Sikder
A Forex technical analyst and writer who has been engaged in financial writing for 12 years.
  • 1989 Articles
  • 32 Followers

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