Crypto exchange Binance’s philanthropic arm has pledged $200,000 to support relief and recovery efforts after severe flooding devastated central regions of Vietnam. The VND 5.3 billion relief fund is meant to provide immediate assistance and support long-term reconstruction for affected families and communities.
According to several local news outlets, extreme rainfall in Vietnam has submerged more than 52,000 homes and left nearly half a million households and businesses without power. Tens of thousands of residents have been evacuated from the most severely impacted areas.
On November 21, representatives from Binance Charity met with the Central Committee of the Vietnam Fatherland Front (VFF) in Ho Chi Minh City to officially pledge the $200,000 contribution.
Binance Charity offers help to Vietnam after rain wipes away homes
Rainfall totals exceeded 1.5 meters (5 feet) over three days in several locations, surpassing the 1993 flood peak of 5.2 meters in some parts of the country.
Coastal cities such as Hoi An and Nha Trang, along with the central highlands’ coffee-producing belt, have borne the brunt of the recent storms. Farmers in the highlands are already struggling with stalled harvests from earlier typhoons, Kalmaegi and Bualoi, which struck within weeks of each other and left widespread destruction.
Per government estimates, natural disasters in Vietnam have caused damage totaling $2 billion (£1.5 billion) between January and October alone.
In thanking Binance Charity’s contribution last week, Mr. Nguyễn Hải Nam, Deputy Chief of the VFF, warmly welcomed the delegation and praised the foundation’s solidarity with disaster-affected communities by “protecting the good leaves from the torn ones.”
Mr. Nam reiterated that the support would help families in disaster-stricken provinces stand back on their feet as they attempt to rebuild their lives.
“Our hearts go out to everyone affected by these devastating floods. We hope this contribution can offer necessary support to those facing immense hardship and help local communities rebuild stronger,” said Seker SB, Head of APAC at Binance.
Binance Charity has a history of disaster relief initiatives in Vietnam, launching an emergency relief campaign in 2024 following Typhoon Yagi in Vietnam by distributing $1 million worth of BNB tokens to affected users.
In the same year, Binance deployed industrial RO water filtration systems in ten Mekong Delta provinces to combat saltwater intrusion.
Additionally, Binance partnered with the Earthworm Foundation in Binh Thuan Province to plant 10,000 trees, supporting forest restoration, ecosystem recovery, and sustainable livelihoods.
“We’d like to send our sincere condolences to those who are impacted by the devastating typhoon Yagi in Vietnam. We hope that our efforts can bring some relief to those affected,” Binance CEO Richard Teng said at the time.
After September’s floods in Khyber Pakhtunkhwa and Punjab, Pakistan, Binance Charity donated $150,000 to the Alkhidmat Foundation. At the start of October, during the Mataian River barrier lake collapse in Hualien County, Taiwan, the organization collaborated with Taiwan Association for Blockchain Ecosystem Innovation (TABEI) to raise $117,210, helping victims of the flooded areas.
Binance and CZ face allegations for helping Hamas
The global cryptocurrency giant and its founder, Changpeng Zhao, known as CZ, are facing a legal complaint filed Monday by American citizens affected by the October 2023 attack on Israel. According to Cryptopolitan’s report, Zhao and Binance are alleged to have knowingly facilitated “substantial assistance” to militant groups, including Hamas and Hezbollah.
The lawsuit claims that Binance enabled transactions to crypto wallets linked to proscribed organizations, with more than $50 million allegedly sent to Hamas, Iran’s Revolutionary Guards, Hizbollah, and Palestinian Islamic Jihad following the attacks.
The Americans claim the exchange managed wallets that sent over $300 million to the groups before the attacks and more than $115 million afterward. Binance insists there was “nothing special about the relationship between it and Hamas” and confirmed it had “blocked” a “small number” of accounts linked to proscribed organizations after the attack.
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