Crypto (BTC, ETH, XRP) Donations Help Raise $14 Million For Charity
It is always good to lend a helping hand and give back to society. The crypto community did just that during the Annual Tipping Point Gala in San Francisco 6 days ago. Popular cryptocurrencies of Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) were donated and helped raise a cool $14 Million that will go towards ending the poverty cycle in the San Francisco Bay Area.
The Tipping Point Non-profit organization found it fit to accept Crypto at the gala. The Crypto would be converted to fiat over the next financial year. The Crypto donations were encouraged through a page in the program present at the event. All the attendees had to do was to scan a QR code and donate an amount of their liking in BTC, ETH or XRP.
The open-mindedness exhibited by Tipping Point was a first amongst Charities and it prompted the attendance of popular Crypto personalities at the gala. In attendance was the co-founder of Ripple, Chris Larsen and Coinbase CEO, Brian Armstrong. Also in attendance was Dan Morehead, the CEO and founder of Pantera Capital Management.
The Tipping Point Community fights poverty in the Bay Area as earlier mentioned. The organization estimates that there are over 1.3 Million people too poor to meet their basic needs in that region of California. The organization has managed to raise over $150 Million since 2005 and the funds go to the lots of community based programs to educate, employ, house and support those in need.
The non-profit act as an avenue for those willing to donate to a worthy cause. They do this by doing the homework with respect to partnering with the most effective groups fighting poverty in the Bay area. They also carry out Research and Development for new methods of eradicating poverty. This last quality explains why they were crypto friendly at their Annual Gala. The non-profit also welcomes pro-bono partners to provide services and expertise to the many groups that lack them.
All in all, it was a good day for Crypto and the Tipping Point Community with the annual gala being a success.