CZ-Backed Giggle Academy Hits $1.3M in Crypto Donations in 12 Hours

Web3 education platform Giggle Academy, supported by former Binance CEO Changpeng Zhao, has begun accepting cryptocurrency donations. The platform’s new donation system allows contributions to be fully recorded on the blockchain, ensuring transparency and traceability without relying on fiat currency. 

Within just 12 hours, the initiative raised over $1.3 million, signaling overwhelming interest from the crypto community. Most contributions came from a single meme token, surprising even CZ and reshaping his understanding of meme coin utility.

Meme Coin Surge Fuels Platform Growth

The donations primarily arrived through the “Giggle” token, developed by Giggle Fund. The token charges trading fees in BNB and automatically directs proceeds to Giggle Academy’s donation address. This mechanism generated approximately $900,000 in fees despite the token’s modest $5 million market capitalization.

CZ emphasized that Giggle Academy did not create this token and does not plan to issue its own cryptocurrency. Consequently, all donations will be converted into major altcoins to fund operations, support community-building initiatives, and provide incentives for content creators.

The huge developement shows the unimaginable potential of meme coins to be used to fund real-life projects. Also CZ personally pays all staff and server bills so the donations are not spent on operations but only educational programs. The transparent blockchain entry ensures that competitors can trace the money trail at any given time.

Vision for Global Education

Giggle Academy expanded as a result of the desire of CZ to have a maximum positive impact after his exit of Binance and a four-month federal jail term. In his final months at a halfway house in Long Beach, he researched business opportunities around the U.S. and connected with tech executives and imagined educational scalability.

The platform focuses on providing free K-12 education for children in developing countries and addressing the needs of 781 million illiterate adults worldwide. Most of these adults live in South Asia, West Asia, and sub-Saharan Africa.