One of today’s leading cryptocurrencies, Ripple has recently donated $29 mln of its own cryptocurrencyXRP to support U.S. public schools, fulfilling over 35,000 funding requests from teachers via DonorsChoose charity fund.
The donated money will be used to equip more than 30,000 classrooms across all 50 states. “Approximately one million students are receiving books, school supplies, technology, field trips, and other resources vital for learning through DonorsChoose.org,” said the founders of Ripple.
DonorsChoose will convert the donations into US dollars over the course of two weeks in order to avoid the volatility of the cryptocurrency market, and to comply with the company’s policy to sell the donated currency immediately. The Founder and Chief Executive Officer of DonorsChoose Charles Best confirmed that the move would be “the largest donation of cryptocurrency.”
Several other cryptocurrencies have also donated to charity this year. Earlier in February, cryptocurrency Buterin donated $2.4 mln worth of Ethereum to the SENS Research Foundation, a charity funding research for treating age-related diseases.
Ethereum (ETH) cofounder Vitalik Buterin also partnered with decentralized payment network OmiseGO to donate $1 mln in ERC20 tokens to the African charity GiveDirectly.
Last year, Bitcoin-exclusive Pineapple Fund donated $1 mln in Bitcoin (BTC) to the Internet Archive. Pineapple Fund aims to give away $86 mln worth of Bitcoin in total to various nonprofit organizations.
DonorsChoose.org is a non-profit organization that allows individuals to donate directly to public school classroom projects.