Ripple Funds Fight Against COVID-19 – Finance and Funding

Fibo Quantum

As the COVID-19 continues to wreak havoc globally, every available resources are being channeled towards containing, preventing and finding a cure.

Leading blockchain firm, Ripple, is lending support to the cause of tackling the global crisis. It would start by channeling a fund of $200,000 to the fight against the COVID-19 pandemic. As of March 28, total infected people worldwide are more than 600,000, with the fatality count crossing the 28,000 mark.

The blockchain firm disclosed about this donation via its Official Twitter handle. It stated that the company was seriously engaged in the fight against the pandemic.

 

The blockchain giant further explained it was splitting the donation into two equal parts. It named Tipping Point’s “COVID emergency response fund” and Silicon Valley’s “COVID Regional Response Fund” as the recipients of the donation.

Ripple’s efforts during COVID-19 times

Notably, Ripple is doing plenty to check the spread of the disease. One of the moves has been allowing its employees to work from home.

Brad Garlinghouse, the CEO of Ripple, stated that the company prioritized the well-being of its team. He added that every decision made during this period was towards the better of its workers, customers, and the general public.

“Ripple continues to support its customers during these tough times. While world economies are shutting down one by one to battle the virus, there is a great need for transferring money around the globe,” Garlinghouse explained.

About the donation recipients

Tipping Point has been working for more than a decade and is a pillar of support for Non-profit organizations. It organizes fundraisers to provide support for poor and vulnerable communities, during crises like the present.

As the COVID-19 pandemic continues to disrupt the normal course of life worldwide, the working class is the hardest hit, making hourly workers lose chances of earning their wages. Tipping Point raises funds to serve people like these in these critical times.

The Silicon Valley Community Foundation (SVCF) has been monitoring the situation ever since the outbreak. It collaborates with several other relief organizations and governments to help people during the crisis. SVCF has raised around $2 million to fight the virus, helping impoverished communities fight the spread of the disease.

Other Coronavirus initiatives

Notably, several other crypto firms are also joining the initiative to tackle the pandemic. Binance Charity recently started a campaign, ‘Crypto Against COVID’. The exchange has pledged $1.5 million to the fight against Coronavirus.

Last month, Binance organized a donation campaign primarily to donate medical supplies to the hospital and medical teams in Wuhan, China, where the virus was first discovered.

Recently the Italian Red Cross joined the cause too. It launched a Bitcoin fundraising campaign to fight the new strain. Currently, it has managed to collect more than $21,000, which significantly exceeds its initial target of $10,000.