Ripple's $100K donation to Brazil flood victims
The San Francisco-headquartered enterprise Ripple has pledged $100,000 to support relief actions in Brazil in the wake of severe flooding.
Initial contributions were provided in the form of XRP tokens to charitable campaigns initiated by the notable Latin American crypto entity Bitso and the financial technology service BRLA.
Ripple has further pledged to augment its employees' donations by a 2:1 ratio.
Massive flooding has wreaked havoc in Rio Grande do Sul, Brazil, displacing hundreds of thousands from their abodes.
The road to recovery appears long for Brazil's southernmost region, as it struggles to bounce back from this calamity.
In Eldorado do Sul, extreme flooding has uprooted the entire community, transforming the city into a vast wasteland of debris. Consequently, the city’s leader has been forced to take residence in his office due to his home being inundated.
The floods have not only impacted lives but also the economy, hitting both large enterprises and small ventures hard, with the full extent of the damage yet to be determined.
Additionally, the state is fighting an outbreak of leptospirosis, a disease spread through water contaminated with the bacteria, leading to severe health complications such as pulmonary hemorrhage, renal failure, and meningitis.
Ripple's history of philanthropy is well documented, from its notable donation to Madonna’s charity for Malawi in 2018 to its collaboration with the San Francisco charity Tipping Point in 2019, aimed at aiding families with low income.
Moreover, Ripple is showcasing its advocacy strength by recently donating $25 million to Fairshake, a pro-cryptocurrency political action committee, demonstrating its commitment to fostering a favorable regulatory environment for digital currencies.
