Cryptocurrency Donations to Hit $1 Billion by 2024

Changpeng “CZ” Zhao , co-founder of Binance , donated 1,000 BNB (nearly $600,000) to support earthquake disaster relief in Thailand and Myanmar on March 3, demonstrating the growing role of blockchain in emergency charity.

On April 3, CZ Zhao announced on X that he had sent 1,000 BNB to support Myanmar and Thailand after the 7.7-magnitude earthquake on March 28 caused massive damage and flooding.

The earthquake killed at least 2,719 people in Myanmar, 18 in Thailand, and 76 are missing. Initially pledging 500 BNB, CZ Zhao doubled the donation to 1,000 BNB ($600,000). Cryptocurrencies have become a vital lifeline amid banking restrictions due to damaged infrastructure.

Crypto donations to surpass $1 billion in 2024 thanks to rising asset prices and clearer regulations. 16% goes to education, 14% to health. The Giving Block calls for $500,000 to support Myanmar and Thailand.

The Giving Block predicts crypto donations to reach $2.5 billion by 2025 thanks to rising digital assets and a favorable political environment.

Cryptocurrency donations used for emergency relief efforts
Blockchain expert Anndy Lian said CZ Zhao’s donation shows the growing role of cryptocurrencies in humanitarian aid. He highlighted the advantages of cryptocurrencies over fiat currencies, especially in emergencies, due to their fast transaction speeds, bypassing intermediaries, and direct accessibility even when infrastructure is affected.