Binance Founder and ex-CEO Changpeng ‘CZ’ Zhao has again made headlines for his charitable move. At a charity dinner, CZ decided to lend a helping hand to victims of the LIBRA token rug-pull. This scam, controversially connected to the Argentine president Javier Milei, caused investors to lose $251 million.
Binance founder donated 150 BNB tokens, worth about $100,000, to the investors as a gesture.
Meanwhile, CZ did not expect anything in return, but the wallet used for the donation later received over $1 million. This unexpected crypto gift left CZ with an important decision about handling the funds.
Binance Founder Evaluates Different Options
With the sudden arrival of funds, CZ started thinking about what to do next. One idea that crossed his mind was an airdrop. This is an opportunity to give the money to crypto users, but it was hard to decide who should get it.
Another option he considered was burning the tokens and removing them from the market, but that wouldn’t help anyone directly. He also considered donating to charity, but it had to be a group that could accept crypto and show clear records.
Among all the options, the most practical choice was to add the funds to a liquidity pool to help maintain market stability.
CZ’s Late Move for Crypto Impact
Before settling on a final plan, CZ tested different market management methods. He also observed how liquidity and maximum extractable value (MEV) interact with the wallet. This strategy gives him insight into market behavior.
He admitted he was late learning about these tools but found it helpful. Instead of thinking about personal gain, he aimed to use the funds in a way that could positively impact the crypto space.
Notably, CZ has not yet made a final decision. He is open to suggestions from the community and wants to use the funds clearly and efficiently.
Changpeng Zhao’s Post-Prison Initiatives
Since stepping down as Binance CEO and serving a four-month prison sentence, CZ continues to be actively involved in crypto. He has started several projects. He launched Giggle Academy, a nonprofit organization, to help kids avoid crypto scams.
He has shown strong interest in investing in emerging technologies, particularly blockchain technology and artificial intelligence (AI). Last November, CZ promoted Decentralized Science (DeSci), at an event held in Thailand.
Additionally, he stays active in the crypto community, sharing his knowledge and keeping a positive outlook on the industry.
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