CZ Tries to Help LIBRA Victims, Ends Up with Extra Crypto

Enjoyed this article?

Share it with your friends!

Changpeng Zhao (CZ), the former Binance

$9.46B

CEO, has donated 150 BNB

BNB

$651.95

(about $100,000) to help those affected by the collapse of the LIBRA meme coin.

However, after sharing the donation address publicly, he ended up receiving more funds than he originally gave.

The LIBRA token, which gained attention after being promoted by Argentina’s President Javier Milei, left over 40,000 investors with losses totaling more than $4 billion.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What is a Crypto Bridge? (Explained with Animations)

Seeing the impact, a college student named EnHeng started raising funds. He contributed $50,000 to the relief efforts, hoping to lessen the financial burden on affected investors.

CZ joined in by making his donation, but the response from the crypto community led to more contributions flowing into his donation address. After noticing the unexpected influx of funds, CZ posted on X:

When you try to make quick money, you often lose. When you give money away, you get more back.

Rather than keeping the extra crypto, CZ promised to donate it to support other victims of meme coin failures like Broccoli and Test Token (TST). He stated, “I won’t be keeping a satoshi of it. Will donate it away”.

Despite the donations, CZ warned that his actions should not be mistaken as an endorsement of any of the tokens involved.

On February 13, the former Binance CEO caused a stir in the crypto community. What happened? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

SOURCE: COIN JOURNAL