Related: Trump-linked crypto ventures may complicate US stablecoin policyCrypto donations gain traction for emergency relief effortsZhao’s donation is a testament to the growing role of cryptocurrency in humanitarian aid, according to Anndy Lian, author and intergovernmental blockchain expert.“Crypto donations, compared to traditional fiat contributions, offer unique advantages, especially in emergencies,” Lian told Cointelegraph, adding:“Speed is a key factor—transactions on blockchain networks can settle in minutes, bypassing the delays of banks or intermediaries, which is critical when time saves lives.”“In disaster-stricken areas like Myanmar or Thailand, where infrastructure might be compromised, crypto can reach recipients directly via digital wallets, no SWIFT codes or wire transfers required,” Lian explained.
Binance co-founder Changpeng “CZ” Zhao donated over half a million dollars worth of crypto to the earthquake disaster relief effort in Thailand and Myanmar, in another testament to the growing utility of blockchain-based emergency charity efforts.
Related: 70% chance of crypto bottoming before June amid trade fears: NansenAt least 2,719 people have been confirmed dead in Myanmar and 18 in Thailand, with 76 people still unaccounted for, according to the latest figures shared by Reuters.
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Author / Journalist: Cointelegraph by Zoltan Vardai
The story "Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake" has 430 words across 16 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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