Ripple Donates $200k to COVID-19 Emergency Response Fund; Crypto Companies Stepping Up
The San Francisco-based Ripple is the latest company to make donations to the novel coronavirus response fund.
The company took to Twitter to share that they had donated $100k donations each to the COVID response fund by Silicon Valley Community Foundation and Tipping Point Community.
“In these challenging times, Ripple is committed to being part of the global response to the COVID-19 pandemic. We’re starting in our own backyard with $100K donations each to @tippingpoint's COVID emergency response fund and @siliconvalleycf’s COVID Regional Response Fund,” tweeted Ripple.
Binance to Donate Millions to Worst Affected Countries
Ripple is not the first company in the crypto space to do so. A few days ago, Binance Charity, the donation arm of leading crypto exchange Binance announced a project titled ‘Crypto Against COVID’ through which it is looking to raise $5 million in cryptos (BTC, BNB, XRP, and BUSD).
Binance will make an initial donation of $1 million USD and further commits to donating up to $2 million and match $1 million USD of public donations received. The funds will be used to buy medical supplies for the countries worst affected by the virus.
“The crypto community is a growing force and we have an opportunity to strengthen this through philanthropy. We encourage the community to take part in this initiative as we unite against COVID-19, and together, we’ll drive impact,” said Binance founder and CEO Changpeng Zhao.
In January, Binance also launched “Binance for Wuhan” and donated about $1.4 million worth of medical supplies to support China in its battle against the COVID-19.
Tron Foundation also sent shipments of medical supplies to China earlier this year.
China announced it’ll lift the lockdown on Wuhan. It's great news as it proves COVID-19 can be contained w/ proper measures. I remembered it was only 55 days ago when TRON 1st learned about COVID-19 & sent a shipment of medical supplies to China. https://t.co/ITS49UBgYr https://t.co/z8yJ48tWtl
— Justin Sun (@justinsuntron) March 25, 2020
Emergency Funds to Help Startups
A few days ago, the Giving Block crypto charity was also launched where donations were made in cryptocurrency to non-profit partners.
“Today, donating cryptocurrency is not just a way to lower our taxes. It is our chance to protect the people we love, all while telling the new crypto story,” said Alex Wilson, CEO of The Giving Block.
An emergency fund by CNBC’s CryptoTrader host Ran NeuNer in collaboration with Yossi Hasson of Techstars has also been created to help the startups affected by the COVID-19 outbreak. The fund has raised $10 million so far.