CZ on donation plan for $Libra rug pull victims: 'I will donate 150BNB'

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CZ on donation plan for $Libra rug pull victims: 'I will donate 150BNB'

Web3/Crypto

Changpeng Zhao (CZ), Co-founder and former CEO of Binance | Binance

By Crypto Republique

Feb 18, 2025

Changpeng Zhao, also known as CZ, co-founder and former CEO of Binance, announced a donation of 150 BNB to assist those impacted by the Argentine $Libra currency incident. The announcement was made on X on February 17.

"Support! I will donate 150BNB," said Zhao. "(about 10w U, based on BNB)"

Zhao's post was in response to an initiative by EnHeng to support victims of the Argentine President's $Libra cryptocurrency incident, which resulted in substantial financial losses for investors. EnHeng pledged $50,000 and is gathering donations via BNB Smart Chain to fund a charity dinner aimed at aiding those affected, with a focus on college students. Zhao later contributed 150 BNB (approximately $100,000) to further support this cause.

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According to Reg Tech Times, Argentine President Javier Milei promoted a cryptocurrency named $Libra, asserting it would enhance the nation's economy. Initially, the currency's value surged, achieving a market capitalization of $4.5 billion before plummeting by nearly 89%, causing significant investor losses. This incident has led to legal complaints and demands for Milei's impeachment, as individuals allege his involvement in fraudulent activities.

Zhao is recognized as the founder and former CEO of Binance, the largest cryptocurrency exchange by trading volume. Born in China and raised in Canada, he previously worked at the Tokyo Stock Exchange and Bloomberg Tradebook before entering the crypto industry. In 2017, he launched Binance and expanded it into a global platform offering trading services, blockchain development, and Web3 infrastructure. He has also supported industry initiatives like BNB Smart Chain and various philanthropic projects.

Founded in 2017 by Changpeng Zhao and Yi He, Binance has grown into one of the world's largest cryptocurrency exchanges by trading volume. The platform provides a comprehensive suite of services including digital asset trading, blockchain development, and Web3 infrastructure solutions. According to their website, Binance is dedicated to fostering innovation and promoting global cryptocurrency adoption.

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CZ on donation plan for $Libra rug pull victims: 'I will donate 150BNB'

CRYPTO NEWS AROUND THE GLOBE

CEO of AUSTRAC on non-AML compliant crypto exchanges: They 'can expect to hear from us'

Memecoin LIBRA in Argentina: A look back at a future state scandal? Crypto Dossier

U.S.-Listed Bitcoin Miners Are Growing Their Share of the Network Hashrate: Bernstein

Governor of Bank of Italy: Crypto 'regulatory divergences between the U.S. and Europe will need to be carefully assessed'

Blockchain Wars: BNB Chain Overtakes Solana and Ethereum in Daily Fees

Former prosecutor of DOJ: The corporate monitorship system is 'in dire need of reform'

CEO of Crypto Council for Innovation: 'SEC initiated more than 125 enforcement actions' but issued 'no clear guidance or rulemakings'

District Judge on Coinbase lawsuit: Coinbase 'sells digital assets qualifying as "securities" without registering with' SEC

Bitcoin: Michael Saylor and Strategy add 7,633 BTC to their treasury

USDC hits $56.3B market cap, regains losses from bear market

U.K. Man Wants to Buy Landfill Site in Search for Lost $784M of Bitcoin: Report

European Central Bank (ECB) hopes Trump's pro-crypto policy will accelerate digital euro

Chairman of Czech Cryptocurrency Association on new crypto laws: ‘Key part of the future of the Czech economy’

U.S. Regulator Pursuing Tokenization Pilot to Tap Stablecoins as Collateral

BaFin announces warning on unlicensed services by CoinCapitals and EasyInvestingPro

Attorney on Operation Choke Point 2.0: 'The government should fix what it has broken'

French crypto entrepreneur on Binance France investigation: 'timing is perfect' to 'secure full cooperation' with crypto tax

Alchemy Pay acquires Korea Electronic Financial Business registration

Bitcoin: El Salvador continues to accumulate BTC

Blackrock Plans to Launch a Bitcoin ETP in Europe: Bloomberg

French crypto entrepreneur on Binance France investigation: 'two days after the Senate vote on unrealized capital gains'

Bitcoin retail sellers send $625M to Binance before 'first cycle top'

Crypto entrepreneur on France's Bitcoin tax: France is 'going down'

ECB cuts rates, does not expect strategic Bitcoin reserves in EU

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CIF: Congress must act on permanent safeguards against debanking, Chokepoint 2.0

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