Binance CEO Changpeng Zhao is defending the company’s $3 million cryptocurrency donation for earthquake relief in Morocco. Critics raised concerns that converting BNB into Moroccan Dirham is challenging and that the donations primarily benefit Binance users.
CZ responded, explaining that cryptocurrencies can be converted into cash and that their donations are intended to provide help where it’s needed.
Binance CEO Changpeng Zhao has addressed feedback and criticism that followed the company’s significant crypto donation of $3 million in BNB tokens for earthquake relief in Morocco, which was made on September 12.
Crypto Donations Defended by Binance CEO
Changpeng Zhao (CZ) made this statement on September 18, addressing concerns that mostly came from traditional charity organizations unfamiliar with cryptocurrencies.
He listed five common concerns raised about crypto donations and mentioned that people need immediate assistance like food and water, not crypto. However, he pointed out that Binance has both traditional donation programs and crypto donations.
In the past, the company has provided items like food, water, masks, and oxygen tanks, but these donations take time to reach those in need. In contrast, crypto donations can have an instant impact.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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