Crypto News

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.Zhao donated 1,000 BNB (BNB) tokens worth almost $600,000 to the disaster relief funds for the region on March 3, blockchain data shows.Zhao donates 1,000 BNB. Source: BscScan“Sent 1000 BNB for the donation for Myanmar and Thailand,” wrote Zhao in an April 3 X post.The crypto donation comes after Thailand and Myanmar were hit by a 7.7 magnitude earthquake on March 28, causing severe damage to buildings and widespread flooding.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.The $600,000 donation comes nearly a week after Zhao pledged to donate 500 BNB for the relief efforts, an initial commitment that he doubled. Cryptocurrency-based donations have emerged as a significant lifeline for the region, due to banking restrictions caused by damaged infrastructure.Source: The Giving BlockCrypto donations exceeded $1 billion in 2024, spurred by increasing digital asset valuations and growing crypto regulatory clarity. About 16% of the donations went toward education, while 14% went toward medicine and health-related efforts.The Giving Block has launched a crypto-based emergency relief effort for Myanmar and Thailand to raise $500,000 for the devastated region.Source: TheGivingBlockThe organization expects crypto donations to reach $2.5 billion in 2025 on growing crypto wealth generation and increasing adoption due to a more favorable political landscape.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.Source: Anndy LianLian also donated 44 BNB tokens to the relief efforts in Myanmar and Thailand, a move that was publicly praised by Zhao.Ethereum co-founder Vitalik Buterin has been known for his crypto donations. In October, Buterin donated over $180,000 in Ether (ETH) to the biotech charity Kanro.Magazine: GUN token’s $69M milestone, Pudgy Penguins go to LOL Land: Web3 Gamer

Decentralized video game ecosystem Treasure DAO is restructuring as “a matter of survival” to extend its financial runway to at least February 2026.Treasure DAO's chief contributor John Patten says in an April 2 video posted to X that he has resumed a leadership role and is taking a plan to the DAO to streamline operations, eliminate unnecessary costs, and center the organization around a few key projects.“I will introduce this after all of you provide your opinions at this time. I have my own thoughts, but we must make this decision as a community through long deliberation. The best ideas need to rise to the surface,” he said. The Next Chapter of Treasure ✨We're releasing an official statement on our pivotal transition, outlining the rationale behind leadership changes, financial restructuring, and our bold new strategic direction.Full details 👇 pic.twitter.com/BjWgZxc98l— Treasure (@Treasure_DAO) April 2, 2025As part of cost-cutting to reduce Treasure DAO's annual burn rate of $8.3 million, Patten says 15 contributors have either left or been laid off, and game publishing support and the treasure chain will be terminated. At the same time, he is proposing to withdraw an idle $785,000 from the market maker Flowdesk to increase the DAO’s treasury.Patten says that, with the current runway, “stablecoins will last until roughly December,” but if the DAO approves withdrawing the funds from Flowdesk, this could be extended to February 2026, in “an optimistic scenario.”The DAO's current treasury only has $2.4 million left, and the ecosystem fund holds 22.3 million MAGIC, valued at $2.3 million, according to Patten, but if “Magic falls,” the DAO is “unsustainable sometime between December and February.” Treasure DAO to refocus on four products Patten says the DAO also needs to focus its energy on a few key products and future partnerships will be based on revenue generation for the DAO, where users of the platform will need to generate value through token use.“The DAO should officially commit to a focused, streamlined approach of four products and four products only, the marketplace, Bridgeworld, Smolworld and AI agent, scaling technology,” he said. Related: Illuvium CEO says firm has gone ‘super lean’ to speed up development“That’s all that Treasure should be through 2025. Bridgeworld and Smolworld will be use cases to demonstrate how other projects utilize magic marketplace and our AI framework and back end to run many, many agents concurrently.”TreasureDAO, launched in 2021, offered services to provide game publishers access to infrastructure and advisory services to launch Web3-based games. However, Patten says it “didn't have a scalable business model” and hasn’t grown since the Arbitrum airdrop in March 2023. The Treasure ecosystem token MAGIC is down 16.5% to $0.0872 for the last 24 hours, according to CoinGecko. Overall, the token has shed 98% after hitting its all-time high of $6.32 on Feb. 19, 2022. Magazine: Financial nihilism in crypto is over — It’s time to dream big again