Ripple announced today that it will join other crypto industry companies in providing funds for earthquake victims in Turkey and Syria
- A $1 million donation from Ripple will go towards helping those affected by the earthquakes in Syria and Turkey.
- In addition to pledging $250,000, Ripple agreed to match other donations 2:1.
- The four Nonprofits will each receive an equal share of the monies raised.
As the business is awaiting a U.S. judge’s ruling in its legal dispute with the Securities and Exchange Commission (SEC), Ripple has taken action to help those impacted by the recent earthquakes in Turkey and Syria.
Ripple has promised to donate $1 million in XRP to four NGOs trying to help devastated communities, joining other crypto firms and people in the relief efforts.
Contributions to NGOs by Ripple Help Earthquake Relief Efforts
By contributing $250,000 in XRP and matching all cryptocurrency donations 2:1, up to $750,000, Ripple has promised to aid with relief operations. Almost 36,000 people have died as a result of the earthquake that happened on February 6 as well as extensive property and livelihood devastation. With four non-governmental organisations, Ripple hopes to make a significant contribution to the recovery efforts in the affected areas (NGOs).
Ripple will donate money to CARE, World Central Kitchen, Mercy Corps, and the International Rescue Committee in equal amounts (IRC). These Groups are striving to help the impacted people in Syria and Turkey by giving them emergency financial assistance, essential supplies like housekeeping and dignity packages for women and girls, hygiene products, and more. Several NGOs have also mentioned receiving contributions from prominent members of the crypto community.
Together, the Crypto Community Supports Turkey Earthquake Victims
Ethereum creator Vitalik Buterin gave 50 ETH to Anka Relief, a cryptocurrency relief organisation and community aiding Turkey earthquake victims, on February 13. Also, he sent 100 ETH to Ahbap, a charity that accepts cryptocurrency donations.
According to Abhap’s website, digital donations totaling more than $4.4 million have already been made. Tezos, Bitget, Gate.io, Kucoin, BtcTurk, Huobi, OKX, Binance, Bybit, BitMEX, and Bitfinex are just a few of the cryptocurrency communities and exchanges that have contributed to the earthquake relief efforts.
On the other hand
- Regardless of the ongoing legal dispute with the SEC, Ripple’s $1 million payment to earthquake relief operations in Turkey and Syria is a good contribution to a worthwhile cause.
- The ability of the crypto industry to positively influence global concerns is demonstrated by the participation of other crypto businesses and individuals in the relief efforts.
- While the relief operations after the earthquake are necessary, it is equally crucial that the impacted communities have long-term support for the reconstruction and recovery activities. After the initial period of aid, organisations must continue to support these initiatives.
Why It’s Important
The potential of cryptocurrencies for humanitarian aid is demonstrated by Ripple’s support to earthquake relief operations, which also highlights their ability to bring people together from all over the world for a shared cause. People have the chance to join a larger movement that uses digital assets for good by making donations in bitcoin.