Ripple to Donate 1% of Profits to Good Causes

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As a seasoned cryptocurrency investor and tech enthusiast with roots deeply entrenched in Silicon Valley, I find Ripple’s decision to join the Pledge 1% philanthropy movement not only commendable but also strategically sound. With over a decade of witnessing the rise and fall of numerous blockchain projects, I can confidently say that Ripple’s commitment to promoting social change through its corporate actions is a testament to their long-term vision and resilience in an ever-evolving market.

Based in San Francisco, the enterprise blockchain firm Ripple has declared they will be partaking in the Pledge 1% corporate philanthropy initiative.

The business is committed to fostering advancements in blockchain technology, as well as improving the availability of financial services, while also pursuing other forward-thinking projects.

This initiative, established in 2014, seeks to motivate businesses at different stages to contribute to worthy causes by donating a portion of their sales, earnings, or resources (time). Businesses opting to participate in this movement can choose to donate 1% of their products, profits, or time.

Roughly 18,000 companies from more than 130 countries have now joined the Pledge 1% initiative. 

Over the last ten years, it has successfully sparked billions of dollars in new charitable giving, and more than sixty billion-dollar startups (unicorns) have come on board.

Among the notable figures participating are Cloudflare and Reddit. Additionally, tekFinder, a leading tech needs agency, joined the initiative earlier today.

Earlier today, Pledge 1% rang the Nasdaq closing bell to celebrate its 10-year anniversary. 

According to Ripple, their choice to become part of a widely-supported initiative stems from their aim to foster substantial transformation.

Ripple has now donated a total of $180 million to various partners and initiatives since 2018. 

According to a report from U.Today, the San Francisco-based firm generously contributed $100,000 to aid those affected by the catastrophic flooding in Brazil that occurred in May.

In October, Ripple entered into an alliance with the International Rescue Committee (IRC), promising a grand total of $1 million.

Earlier this year, the company was recognized as the leader in the realm of crypto payments. 

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2024-12-03 23:03