Key Points:
- CZ donated 150 BNB to support Argentine students impacted by the LIBRA collapse.
- The contribution adds to EnHeng’s $50,000 relief fund for affected students.
- This initiative addresses financial losses faced by young investors after LIBRA’s failure.
Cryptocurrency executive Zhao Changpeng (CZ) has pledged 150 BNB, valued at approximately $100,000, to support Argentine students affected by the LIBRA collapse. This contribution, made through EnHeng’s charitable initiative, supplements their initial $50,000 donation to establish a thorough relief fund.
The support mechanism aims to address financial losses incurred by student investors who were influenced by President Milei’s endorsement while highlighting the critical need for improved cryptocurrency education and investor protection measures.
$150K Relief Fund to Support Argentine Students
Following the collapse of the LIBRA token after Argentine President Javier Milei supported it on social media, a relief fund has been established to assist the victims who suffered financial losses from the incident. The token initially surged in value after Milei’s promotion but subsequently plummeted by over 94% within hours, leading to accusations of market manipulation and a “rug pull” scenario.
In response to the situation, Binance founder Zhao Changpeng publicly supported the initiative by pledging 150 BNB, equivalent to approximately $100,000, to help those impacted by the fallout from the LIBRA collapse.
The contribution adds to the efforts of EnHeng, a well-known encrypted KOL, who has already pledged $50,000 for a dinner fund aimed at helping victims. The initiative is prioritizing student victims who may have invested in the token, and further contributions are being accepted through a Binance Smart Chain (BSC) address for an upcoming charity dinner.
As a college student, I know the feeling of this blow. In order to help the friends affected, Eneng decided to donate $50,000 and accept donations through the BSC address to send Eneng charity dinner sponsorship to bring warmth and support to everyone.
EnHeng wrote.
LIBRA Victims Can Apply for Financial Aid with Simple Claims Process
According to EnHeng, victims of the LIBRA token incident can apply for financial assistance through a straightforward claims process. First, student victims are required to provide their school name, major, student ID number (optional), and a clear photo of their student ID for identity verification.
Non-student victims can skip the student verification step but still need to provide other necessary information to confirm their losses.
Next, victims must provide the wallet address they used during the incident to verify their losses. In addition, they must detail both the amount they invested and the total loss incurred, ensuring the accuracy of this information.
An optional step in the process allows victims to receive additional compensation if they agree to share information about the incident and help spread awareness. Once the claim form is completed, it is recommended that victims post a comment on Twitter to indicate they have submitted the form.
CZ’s Support and Relief Efforts Through EnHeng’s Charity Initiative
Contributions are being accepted via a Binance Smart Chain (BSC) address. The efforts aim to support those impacted by the LIBRA token fallout.
The initiative, led by EnHeng, comes in the wake of Milei’s promotion of the token on February 14, 2025, which was followed by a sharp drop in the token’s value, triggering widespread concern.
The subsequent political fallout has sparked calls for investigations into the incident, with critics alleging that the endorsement misled investors, many of whom are now facing significant losses.
For more information on how to apply for assistance, please refer to the official form linked by EnHeng.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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