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Ripple donates $100,000 in XRP for California wildfire relief amid ongoing SEC battle
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Ripple has committed $100,000 in XRP to aid relief efforts for victims of the devastating California wildfires.
According to a Jan. 14 statement, this contribution was channeled to World Central Kitchen and GiveDirectly, two organizations actively providing meals and financial assistance to those affected.
The firm stated that its donation was facilitated through The Giving Block, and the initiative illustrates the growing use of cryptocurrencies in humanitarian efforts.
To amplify its impact, Jared Isaacman, CEO of The Giving Block parent company Shift4, has pledged to match donations dollar-for-dollar up to $1 million, with the aim of raising a total of $2 million by Jan. 15.
So far, contributions have exceeded $332,000 as of press time, according to The Giving Block’s dashboard.
Meanwhile, this donation marks the second notable gesture the firm is making to support the disaster relief efforts in California. Last week, the company partnered with MoonPay to contribute $50,000 in RLUSD stablecoins to the Los Angeles Fire Department (LAFD) Foundation.
The California wildfires, which began on Jan. 7, have devastated parts of Los Angeles and nearby areas.
Hurricane-strength winds, low humidity, and prolonged droughts have exacerbated the situation. Emergency services, including the LAFD, are working tirelessly to contain the fires, but the destruction has forced nearly 200,000 residents to evacuate.
Legal challenges persist
Ripple’s philanthropic activities come as the company navigates its ongoing legal battle with the US Securities and Exchange Commission (SEC).
The lawsuit began in December 2020 and accused Ripple of raising $1.3 billion through the unregistered sale of XRP tokens.
In 2023, Ripple scored a partial win when a judge ruled that its programmatic XRP sales did not violate securities laws. However, the SEC’s last-minute appeal has prolonged the case, introducing additional complexities.
Ripple’s legal team, led by Stuart Alderoty, has criticized the regulator’s actions as unnecessary delays that waste taxpayer funds. He stated:
“We asked the SEC to agree to postpone the filing of their opening brief in their appeal of our victory (current deadline Jan 15) – and they refused. What a waste of time and taxpayer dollars!”
The post Ripple donates $100,000 in XRP for California wildfire relief amid ongoing SEC battle appeared first on CryptoSlate.
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Ripple donates $100,000 in XRP for California wildfire relief amid ongoing SEC battle
Share:
Ripple has committed $100,000 in XRP to aid relief efforts for victims of the devastating California wildfires.
According to a Jan. 14 statement, this contribution was channeled to World Central Kitchen and GiveDirectly, two organizations actively providing meals and financial assistance to those affected.
The firm stated that its donation was facilitated through The Giving Block, and the initiative illustrates the growing use of cryptocurrencies in humanitarian efforts.
To amplify its impact, Jared Isaacman, CEO of The Giving Block parent company Shift4, has pledged to match donations dollar-for-dollar up to $1 million, with the aim of raising a total of $2 million by Jan. 15.
So far, contributions have exceeded $332,000 as of press time, according to The Giving Block’s dashboard.
Meanwhile, this donation marks the second notable gesture the firm is making to support the disaster relief efforts in California. Last week, the company partnered with MoonPay to contribute $50,000 in RLUSD stablecoins to the Los Angeles Fire Department (LAFD) Foundation.
The California wildfires, which began on Jan. 7, have devastated parts of Los Angeles and nearby areas.
Hurricane-strength winds, low humidity, and prolonged droughts have exacerbated the situation. Emergency services, including the LAFD, are working tirelessly to contain the fires, but the destruction has forced nearly 200,000 residents to evacuate.
Legal challenges persist
Ripple’s philanthropic activities come as the company navigates its ongoing legal battle with the US Securities and Exchange Commission (SEC).
The lawsuit began in December 2020 and accused Ripple of raising $1.3 billion through the unregistered sale of XRP tokens.
In 2023, Ripple scored a partial win when a judge ruled that its programmatic XRP sales did not violate securities laws. However, the SEC’s last-minute appeal has prolonged the case, introducing additional complexities.
Ripple’s legal team, led by Stuart Alderoty, has criticized the regulator’s actions as unnecessary delays that waste taxpayer funds. He stated:
“We asked the SEC to agree to postpone the filing of their opening brief in their appeal of our victory (current deadline Jan 15) – and they refused. What a waste of time and taxpayer dollars!”
The post Ripple donates $100,000 in XRP for California wildfire relief amid ongoing SEC battle appeared first on CryptoSlate.
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In This News
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Ripple’s XRP Institutional Appeal Skyrockets as Most Notable ISO 20022 Token for Global Payment Systems