The move is part of Kyrgyzstan’s broader push to develop its tech infrastructure and use its untapped renewable energy for crypto mining. CZ also recently donated $600,000 in BNB for earthquake relief in Thailand and Myanmar. Meanwhile, Elon Musk’s platform X faces a potential $1 billion fine from the EU for alleged violations of the Digital Services Act, along with ongoing investigations into its content moderation and transparency practices.
CZ Joins Forces with Kyrgyzstan
Former Binance CEO Changpeng “CZ” Zhao took on a new advisory role with the Kyrgyzstan Republic. He will be providing guidance on blockchain regulation and technological implementation after the signing of a memorandum of understanding with the country’s National Investment Agency. This agency focuses on attracting foreign investments and facilitating international business engagement, and it plans to take advantage of CZ’s expertise to enhance Kyrgyzstan’s technological infrastructure and boost innovation in blockchain, digital assets, and cybersecurity.
Kyrgyzstan President Sadyr Zhaparov stated that initiatives like these are key to driving sustainable economic growth and improving virtual asset security. He believes that this collaboration could unlock new business opportunities and societal benefits. CZ agreed with this sentiment in a post on X, and also revealed that he advises several governments, both officially and unofficially, on regulatory frameworks and blockchain applications beyond trading, and finds this work deeply meaningful.
Kyrgyzstan is known for its mountainous terrain and status as a landlocked country, and holds huge potential for crypto mining due to its underused renewable energy resources. More than 30% of its energy supply comes from hydroelectric power, yet only a fraction of this potential has been developed. This makes it a very attractive destination for blockchain infrastructure projects.
This isn’t the first time CZ engaged with governments across Asia. In January, he met with Malaysian Prime Minister Anwar Ibrahim to discuss crypto policy, and he also held undisclosed meetings with officials in the UAE and Bhutan. These advisory roles were offered just months after CZ completed a four-month US prison sentence for violating anti-money laundering regulations.
CZ (Source: Fortune India)
Since his release, CZ returned to the blockchain space with a focus on investment and philanthropy, supporting emerging technologies like artificial intelligence and biotech.
CZ Sends 1,000 BNB for Disaster Relief
CZ also recently donated more than half a million dollars in cryptocurrency to support earthquake disaster relief in Thailand and Myanmar. On April 3, Zhao confirmed through a post on X that he sent 1,000 BNB, which was worth close to $600,000 at the time, to help communities that were affected by the devastating 7.7 magnitude earthquake that struck the region on March 28. The quake caused extensive damage and flooding, with at least 2,719 people confirmed dead in Myanmar and 18 in Thailand. Seventy-six people remain unaccounted for.
The donation was recorded on blockchain data, and was made just days after Zhao initially pledged 500 BNB, which he later doubled. As traditional banking infrastructure was heavily impacted by the disaster, blockchain stepped up as a powerful tool to facilitate fast and direct aid distribution. Crypto contributions can bypass damaged financial networks and deliver funds straight to recipients through digital wallets without the need for intermediaries.
Zhao’s charitable act came as crypto donations reached new heights globally, with over $1 billion donated in 2024 alone. Of this total, 16% went to educational causes, while 14% was allocated to medicine and health initiatives. Organizations like The Giving Block are actively harnessing crypto’s potential, and even recently launched a dedicated campaign to raise $500,000 for earthquake relief in Myanmar and Thailand. The group predicts that crypto donations could grow to $2.5 billion in 2025, due to rising digital asset values and improved regulatory clarity.
Anndy Lian, a well-known blockchain advisor and author, believes that crypto’s speed and accessibility make it uniquely valuable in disaster response scenarios. Unlike traditional fiat transactions that may be delayed by banking processes, blockchain transfers settle in minutes. Lian also donated 44 BNB to the relief efforts, and noticed that in places with compromised infrastructure, crypto can be a lifeline by providing aid without the need for SWIFT codes or bank accounts. Zhao also publicly praised Lian for his contribution.
This recent wave of generosity happened after similar efforts by other crypto pioneers, including Ethereum co-founder Vitalik Buterin, who donated more than $180,000 in ETH to a biotech-focused charity in October. Blockchain’s use in charitable giving is becoming not just more common but increasingly impactful in times of crisis.
EU Mulls $1B Fine Against Elon Musk’s X
While CZ’s legal troubles are mostly over, the same can certainly not be said for Elon Musk. European Union regulators are reportedly considering a $1 billion fine against Elon Musk’s social media platform X for alleged violations of the Digital Services Act, with the penalty potentially factoring in revenue from Musk’s other companies, including Tesla and SpaceX.
According to a report by The New York Times citing four sources familiar with the matter, the EU may invoke a section of the act that allows fines of up to 6% of global revenue, which could significantly amplify the financial impact on Musk’s ventures.
The Digital Services Act was implemented in October of 2022, and it is aimed at curbing illegal and harmful online activities and increasing transparency and accountability for major tech platforms operating within the EU. The European Commission, while not commenting directly on the case, held firm that it is still very committed to applying the law impartially to all companies.
In response, X’s Global Government Affairs team called the reported fine an “unprecedented act of political censorship and an attack on free speech,” and pointed out that the platform has gone “above and beyond” in its compliance efforts. It also pledged to defend its operations and principles in Europe. The company signaled its intent to use all available legal options to challenge the proceedings.
Beyond the monetary fine, EU regulators could also mandate product changes at X, although the scope of these potential alterations remains unclear. However, a settlement may still be possible if X agrees to specific reforms that meet EU standards.
X is also reportedly the subject of a second EU investigation that is centered on its content moderation practices. Officials allege the platform has become a conduit for illegal hate speech and disinformation. These charges could bring additional penalties depending on the outcome of the ongoing inquiry.
The EU’s scrutiny of X dates back to 2023. A preliminary ruling issued in July of 2024 concluded that X breached the Digital Services Act by failing to supply researchers with necessary data, offering limited transparency about its advertisers, and not properly verifying users with verified status. In response, X challenged the ruling with hundreds of counterpoints. At the time, Musk claimed that regulators proposed an informal deal to avoid penalties if the platform quietly suppressed certain content—an allegation EU officials have firmly denied.
Thierry Breton, then the EU commissioner for internal market, publicly stated that there was no backroom agreement, and clarified that X had asked the Commission to explain the settlement process and regulatory concerns, to which the Commission responded according to standard procedures. Musk said he welcomed a “very public battle in court” to ensure that the people of Europe learn the truth.
