A blockchain business called Ripple tweeted that it has contributed $1 million worth of XRP tokens to help individuals in Turkey and Syria impacted by the earthquake.
On Feb 6, in the early hours, a seismic event measuring 7.8 on the Richter scale hit Turkey and Syria, resulting in the deaths of more than 40,000 people and impacting a total of over 11 million individuals.
In their tweet, Ripple stated that the donated funds would be directly allocated to the relief fund of NGOs. The San Francisco-based company will contribute $250k in XRP, equivalent to around 654k XRP, and match any cryptocurrency donations 2:1, up to $750k.
The fund’s four NGOs evenly split the donations. Affected communities in Syria and Turkey receive aid from CARE, Mercy Corps, and RESCUEorg through monetary contributions, necessities such as home kits, kits promoting women’s and girls’ dignity, hygiene kits, and more.
The financial behemoth has joined its contemporaries in offering cash to the earthquake-affected citizens. A few days ago, the Ethereum community offered to contribute to relief efforts.
Its co-founder Vitalik Buterin has made at least two sizeable contributions to help individuals impacted by the catastrophic earthquakes that struck Turkey and Syria last week.
Over the week, Buterin made ether donations totaling $1,590. On Feb 12, PeckShield reported a donation of 50 ETH (valued at $77,000) by him to Anka Relief.
Blockchain evidence revealed that wallet addresses provided by Ahbap had received over $3 million in bitcoin donations. As a result, the crypto community reacted quickly.
More than $5 million in bitcoin donations, according to Chainalysis, a blockchain analytics firm, have gone to Turkey and Syria.
XRP Joins Top Crypto Assets Qn FuelHash
Financial Times reported that Binance, a cryptocurrency company, donated $5 million towards a cause. In addition, other companies have pledged a total of approximately $10 million towards the exact cause.
Nevertheless, XRP, the sixth-largest cryptocurrency by market size, has successfully obtained a listing in FuelHash, a Japanese asset management platform. Crypto enthusiast sentosumosaba disclosed this.
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With this development, XRP has entered the league of other top crypto assets, such as BTC, ETH, USDC, BNB, etc. The outcome of XRP’s legal battle with Ripple and the SEC closely links to its future. As a result, XRP remains in the spotlight as its high-profile litigation unfolds.
This article conveys general information and the opinions expressed should not be considered personal advice for any individual or specific security or investment product.