Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
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Binance Charity has announced a relief initiative worth up to $1.2 million in BNB for users impacted by recent floods in southern Taiwan.
Key Takeaways:
- Binance Charity will distribute up to $1.2 million in BNB to flood-affected users in southern Taiwan.
- Eligible users verified before August 7 will receive $80, while a second round offers $30 to 15,000 new POA completions.
- The initiative continues Binance’s history of disaster relief efforts in Asia, Europe, and beyond.
The donation targets Binance account holders who live in areas hardest hit by the torrential rains, including Changhua, Yunlin, Chiayi, Tainan, and Kaohsiung, the exchange said in a recent announcement.
Eligible recipients will be identified based on proof-of-address (POA) data submitted before August 7, 2025. Verified users in the affected zones will receive $80 in BNB directly into their Binance accounts.
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.
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.
