Crypto Billionaire Zhao Donates $10 Million to Buterin’s Biotech Initiatives

Crypto billionaires are increasingly leveraging their resources to fund innovative initiatives in biotechnology, marking a significant shift in how scientific research is supported. This trend was highlighted when Changpeng Zhao, the founder of Binance, announced on June 1 that he had personally donated $10 million in BNB to Ethereum founder Vitalik Buterin’s open-source biotech initiatives. This donation, which occurred a few months prior to the announcement, complements the investments made by Zhao’s family office, YZi Labs, in similar biotech endeavors.

Zhao, with a net worth of approximately $65 billion, described his contribution as a small part of his efforts to advance biotech, likely inspired by Buterin’s vision. Buterin’s approach to decentralized biotech aims to address the current dominance of giant corporations in scientific research, which often prioritize profit over public benefit. By applying blockchain principles such as transparency, open-source development, and privacy, Buterin believes that scientific progress can be more equitable and beneficial for everyone.

In a 2023 blog post, Buterin outlined several ways decentralized science can revolutionize fields like biotech. For example, zero-knowledge proofs can be used to protect public health during epidemics while safeguarding user privacy. Additionally, independent researchers can develop tools like open-source vaccine protocols and pocket air testers, which could save lives in future pandemics. Buterin’s vision also includes a unique funding model for public goods, leveraging the community-focused nature of cryptocurrency. He has personally donated millions to his biotech fund, primarily using crypto earned from memecoins.

This collaboration between Zhao and Buterin represents a growing trend among crypto billionaires to support scientific research through decentralized methods. By donating to Buterin’s initiatives, Zhao is not only advancing biotech but also promoting the principles of blockchain technology in a new and impactful field. This move underscores the potential of cryptocurrency to drive innovation beyond financial markets, fostering a more transparent and community-driven approach to scientific progress.