Changpeng Zhao (CZ) has pledged 150 BNB, which is about $100,000, to support Argentine students affected by the LIBRA crash. This contribution, made through EnHeng’s charity initiative, comes on top of their initial donation of $50,000 to establish a relief fund.
The support mechanism aims to address the financial losses incurred by student investors who were impacted by President Milei’s support, while highlighting the urgent need for better cryptocurrency education and investor protection measures. According to EnHeng, victims of the LIBRA token incident can apply for financial assistance through a simple application process. They must provide the name of the educational institution, major, student ID number (optional), and a clear photo of the student ID for identity verification.
Following the collapse of the LIBRA token after Argentine President Javier MILEI endorsed it on social media, a relief fund was set up for victims who suffered financial losses as a result of the incident. The token initially surged in price following Milei’s promotion, but then plummeted by over 94% within a few hours, leading to accusations of market manipulation and a “rug pull” scenario.
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