Changpeng Zhao, commonly known as CZ, co-founder and former CEO of Binance, announced that he sent 150 BNB to support an initiative aiding victims of the Argentine President's $Libra currency incident. The statement was made on X on February 18.
"Sent 150 BNB," said Zhao. "Good luck and keep up the good work!"
CZ's post was in response to an initiative led by EnHeng to aid victims of the Argentine President's $Libra crypto incident, which caused financial losses for many investors. EnHeng pledged $50,000 and is accepting donations via BNB Smart Chain to fund a charity dinner providing relief, with priority given to affected college students. Zhao then doubled his donation and contributed 150 BNB (approximately $100,000) to support the effort.
According to the Guardian, Argentine President Javier Milei promoted a cryptocurrency called $Libra, describing it as a project aimed at "boosting the growth of the Argentine economy by funding small businesses and entrepreneurs." Following his endorsement, the currency's value initially surged, reaching a market capitalization of $4.5 billion before collapsing by nearly 89%, leading to significant investor losses.
Zhao is the founder and former CEO of Binance, the world's largest cryptocurrency exchange by trading volume. Born in China and raised in Canada, Zhao previously worked at Tokyo Stock Exchange and Bloomberg Tradebook before entering the crypto industry. He launched Binance in 2017, rapidly growing it into a global platform offering trading, blockchain development, and Web3 infrastructure while also investing in industry initiatives such as BNB Smart Chain and various philanthropic efforts.
According to their website, Binance is the world’s largest cryptocurrency exchange by trading volume, offering a wide range of digital asset services including spot and futures trading, staking, and blockchain development. The company operates under 21 regulatory approvals and registrations—the most of any global crypto exchange—allowing it to serve users across multiple jurisdictions. Binance also developed BNB Smart Chain (BSC), a blockchain ecosystem supporting decentralized applications (dApps) and tokenized assets used for recent charitable donations.