Breaking: Binance Charity Launches $1.2M BNB Airdrop for Taiwan Flood Relief
Crypto giant Binance makes waves with a seven-figure relief effort—proving blockchain's utility beyond speculative trading.
In a move that blends humanitarian aid with crypto adoption, Binance Charity announced today it will distribute $1.2 million worth of BNB to victims of Taiwan's devastating floods. The airdrop targets thousands displaced by what meteorologists call the worst flooding in decades.
How it works: Eligible recipients will receive BNB directly into non-custodial wallets, bypassing traditional banking bottlenecks. "This is decentralized finance in action," said a Binance spokesperson—though skeptics note the exchange still controls the faucet.
The fine print: While victims gain immediate access to liquid assets, the volatile nature of crypto means that $1.2M today could be $2M tomorrow—or $800K. A bold gamble for people who've already lost everything to forces beyond their control.
Second Round of Binance Aid Offers BNB to 15,000 Verified Taiwan Users
In addition, a second round of support will go to the first 15,000 users in the disaster zones who complete POA verification between August 7 and August 20.
These individuals will be granted $30 in BNB as part of the program. Distribution of funds is scheduled to begin on August 14.
“Our thoughts are with every community and user affected by the severe flooding in southern Taiwan,” Binance CEO Richard Teng said.
“We hope this donation will provide timely and meaningful assistance. Most importantly, we sincerely wish everyone impacted a SAFE and swift recovery and a smooth return to normal life.”
This isn’t the first time Binance Charity has stepped in during a crisis. The organization has previously extended support to victims of the Hualien earthquake in Taiwan and responded to emergencies in Turkey, Argentina, Thailand, Myanmar, and several parts of Europe.
These are some of my personal charity efforts since Oct 2024, after my 4-month jail time in the US.https://t.co/yXvBbrvnOg
Over 69,360 lives impacted in Sudan, Kenya, Thailand, and Myanmar.
ps. I made a few other donations too. Will share more details in due time.
In 2023, the exchange airdropped $100 worth of BNB tokens to its Turkish users affected by the devastating earthquake.
At the time, other crypto platforms, including Bitfinex, Keet, Synonym, and Tether, also pledged TRY 5 million ($265,550) to go toward the earthquake recovery in Turkey.
In April this year, Binance co-founder and former CEO Changpeng Zhao (CZ) donated 1,000 BNB tokens (worth about $598,025) to help Myanmar and Thailand recover from the recent earthquake.
CZ Seeks Dismissal of FTX’s $1.76B Lawsuit
Just recently, Zhao filed a motion to dismiss a $1.76 billion clawback lawsuit brought by the FTX bankruptcy trust.
He argued the Delaware court lacks jurisdiction over him, as he resides in the United Arab Emirates and the case has little connection to U.S. law or territory.
His legal team claims that FTX’s accusations are legally unsupported and irrelevant to federal securities regulations.
FTX filed the suit in late 2024, aiming to recover $1.76 billion it says was improperly transferred to Binance during a 2021 share purchase agreement.
The now-bankrupt exchange contends the transaction was fraudulent, given its undisclosed insolvency at the time.
Binance has consistently labeled the claims as meritless and an attempt to shift blame away from FTX founder Sam Bankman-Fried.
In the latest filing, CZ criticized FTX’s efforts to “nonsensically blame” him and Binance for Bankman-Fried’s misconduct. He maintains that the allegations do not meet legal standards for constructive fraud.
