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May 20
2019
History Will Remember the Value We Created: Why Crypto.com Donated 28,888 BNB to Binance Charity

This is the story of what moved Crypto.com Co-Founder Bobby Bao to help improve thousands of children’s lives, after an in-flight movie and a speech from CZ.

The blockchain industry has experienced several ups and downs, from its meteoric rise in 2017, to the violent storms in 2018, and then to the calmness in 2019. In this fast-changing environment, we have witnessed some people make great fortunes overnight and countless others fail spectacularly. Opportunistic speculators, technology developers, and evangelists appeared one after another and competed against each other. When the tide receded, everyone finally began to calm down and rethink the true essence and underlying value of blockchain and crypto. What does blockchain represent? Does it represent the flow of value or the expansion of faith?

Bobby Bao, Co-Founder and Head of Corporate Development of Crypto.com, has tried to answer this question.

Bobby has transitioned from investment banking to the blockchain industry, becoming part of Crypto.com’s senior management before he turned 30. Bobby, who has extensive experience in the investment banking industry, witnessed the whole history of the ups and downs of the crypto industry. When blockchain hype reached its peak, Bobby reflected on its heyday. On a flight from Hong Kong to Seoul, Bobby watched the movie “Million Dollar Man.” He found himself asking, “Where does wealth come from? Where will it go? At the end of the day, what else is left aside from figures on a bank account? A hundred years later, what difference could we make for society?”

Bobby attended a blockchain event in Seoul, where Binance CEO CZ (Changpeng Zhao) delivered a speech themed “Centralization and Decentralization.” At the end of the speech, CZ showed a slide that made an impact on the Crypto.com executive.

At this moment, Bobby started to realize that Binance Coin (BNB) is more than a cryptocurrency. The value of 1 BNB goes beyond the ups and downs on a chart. A single BNB can change a child's life for better and give hope to the poor across the globe. After all, blockchain and cryptocurrencies are created to make the world a better place.

After discussing with Kris Marszalek, co-founder and CEO of Crypto.com, who had also attended the presentation, Bobby picked up his phone and contacted Helen Hai, the head of Binance Charity. He expressed that Crypto.com is eager to donate $500,000 worth of BNB (around 28,888 BNB at that time) to the Binance Lunch for Children program on behalf of Crypto.com. The amount, which was immediately transferred to the wallet for Binance Lunch for Children, can cover eight years’ worth of lunch for 1,000 children in Uganda.

"History will remember the value we created.” That was all that Bobby said about his donation.

Progress happens when courageous, skillful leaders seize the opportunity to change things for the better. These leaders have the power to improve lives, create value, usher in a better world, and change history with just one action. We are grateful for leaders like Bobby, who move to provide a bigger purpose for the blockchain revolution.