Changpeng Zhao, also known as “CZ,” a key figure behind the Binance
$12.71B
exchange, has introduced Giggle Academy, an educational venture. The project swiftly garnered over $1.3 million in crowd-sourced funding just hours after its launch.
Data from BscScan shows the donation address, activated on September 21st, holding more than 1,311 BNB
Much of the support came via “Giggle,” a recently created meme-inspired cryptocurrency. Created by the Giggle Fund, every transfer of this virtual token contributes a small cut, sent directly in BNB rather than Giggle to the academy’s public donation wallet.
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According to its official documentation, Giggle Academy states funds raised are to be invested in creators, promotion, platform advancement, and cultivating a thriving user community.
The core mission is to create a space where educators can distribute learning resources while students are incentivized for academic achievements.
The approach of using token donations was first suggested on X by @RuneCrypto, recalling Vitalik Buterin’s (Ethereum’s
CZ responded by ensuring donors their contributions will be promptly changed into a more reliable form of cryptocurrency and that price variations shouldn’t concern them following their contribution.
@RuneCrypto then added this isn’t your typical meme coin donation. Instead of sending the meme coin, the network levies a tiny fee in BNB which automatically becomes the donation.
In other news, programmable money platforms Rain and M0 recently raised almost $100 million. Discover their distinct funding priorities in this detailed analysis. Read more here.