The Giving Block has received $100,000 in XRP from Ripple as part of the California Wildfire relief efforts.
Blockchain payment firm Ripple Labs Inc supports California wildfire victims with $100,000 worth of XRP $2.19 24h volatility: 4.7% Market cap: $128.01 B Vol. 24h: $3.46 B .
The San Francisco-based company announced that it would donate to The Giving Block. Markedly, The Giving Block is a Pennsylvania-based platform that makes accepting cryptocurrency donations easy for nonprofits.
Ripple’s contribution comes barely a week after The Giving Block announced an initiative to secure up to $2 million to aid Los Angeles residents, businesses, and first responders.
California Wildfire Triggers Multiple Losses
Noteworthy, the California wildfires lasted for a few days, claiming the lives and properties of many residents. It has left many people displaced from their homes. The economic losses from the fires currently run to $200 billion. The record shows this is the most costly fire outbreak in the United States.
Ripple is donating $100,000 in XRP through @TheGivingBlock to @WCKitchen and @GiveDirectly to aid in wildfire relief efforts in California.
Thanks to @rookisaacman, our donation will be doubled.
You can help families and first responders too. Your crypto, cash and stock…
— Ripple (@Ripple) January 14, 2025
Four days ago, Ripple donated $50,000 of its newly-launched RLUSD stablecoin to the Los Angeles Fire Department Foundation (LAFDF). The firm donated to support first responders. So far, many sectors, including the entertainment industry, have felt the impact of the breakout. Even the Academy has had to postpone Oscar nominations.
Sony Music Group and Universal Music Group (UMG) also canceled all Grammy-related events. This is to assist wildfire victims by redirecting resources. Other contributors to California wildfire relief are Airbnb, Walmart, Disney, and other major companies. A few celebrities have also donated some funds to the wildfire relief effort.
One such personality is “Desperate Housewives” star Eva Longoria, who donated seven figures. Explicitly, the latest Ripple move is similar to the efforts made in 2020 during the COVID-19 pandemic.
At the time, Ripple Labs donated $200,000 to two different non-profits. Tipping Point Emergency Response Fund and the Silicon Valley Community Foundation’s COVID Regional Response Fund received $100,000 each.
The fund was to help contain the spread of COVID-19 when many homes were in distress.
Ripple and Political Campaigns Financing
Pandemics and wildfires are not the only incidents that Ripple has contributed to in the last few months. It also lends its voice, in the form of funds, to political campaigns.
In July 2024, the blockchain payments infrastructure provider donated $1 million to support John Deaton’s Senate campaign. Ripple’s contribution was intended to help Deaton challenge and potentially unseat Senator Elizabeth Warren.
For a very long time, Sen. Warren remained a vocal critic of the crypto industry. As a member of the Senate Banking Committee, She is reportedly instrumental in Operation Chokepoint 2.0, a campaign to debank crypto firms.
This Chokepoint agenda aims to reduce money flow from traditional banks to the crypto industry. Industry proponents also noted that she might be responsible for some crackdowns on crypto-friendly banks like Silvergate, which became bankrupt.
Recently, she called on incoming Treasury Secretary Scott Bessent to consider expanding regulatory powers over the cryptocurrency industry.
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