Ripple Donated A Million Worth XRP to Turkey and Syria

Jed McCaleb, the founder, is ranked 1251 in the billionaire’s list of Forbes.
There has been a donation of more than $9 million in cryptocurrencies, according to Chainalysis.

Ripple is a blockchain-based digital payment network and protocol with its native cryptocurrency, XRP. It is one of the globally popular crypto-based protocols offering hassle-free cross-board payments.

Ripple recently revealed that it is investing $1 million in XRP tokens to support earthquake victims in Turkey and Syria. The funding initiative was started by AHBAP, a non-profit organization backed by famous artist and musician Haluk Levent.

We are committing $1M in XRP to support NGOs providing earthquake relief in Turkey and Syria – through a relief fund on @crypto4charity_ and are donating $250k USD in XRP and will also match 2:1 all crypto donations here, up to $750k USD. https://t.co/5baCiawOJr
— Ripple (@Ripple) February 14, 2023

According to Chainalysis, more than $9 million of cryptocurrencies have been donated to Turkey and Syria. Some prominent players in the crypto industry have alongside sent their love in the form of cryptocurrency.

Our thoughts are with all the people who have been affected by the tragic Turkey-Syria earthquake today.
BitMEX will be donating the proceeds of this week’s Trading Competition to the @RedCrescent, and we encourage those who can donate to do the same. #GeçmişOlsunTürkiye
— BitMEX (@BitMEX) February 6, 2023

Including Ripple, several others like Kucoin, OKX, Bitfinex, Avalanche, BitMex, Levent Digital Wallet, Tether, Keet, and Synonym and leading crypto were also part of this donation program.

The Avalanche Foundation has donated $1M in AVAX to the disaster relief efforts, organized by @haluklevent, for the earthquake that has affected Turkey and Syria. We encourage others to join the effort. https://t.co/Inr7oLX28q
— Avalanche 🔺 (@avalancheavax) February 7, 2023

Ripple is defending itself against SEC’s allegation and is awaiting the judge’s decision on its case. Institutional clients like banks and other traditional banking systems mostly use Ripple’s cross-border payment facility.

According to a September 2022 Chainalysis report, Turkey ranks 12th among the top 20 countries in the Global Crypto Adoption Index. Another report suggests that about 2.4 million people allegedly own cryptocurrencies, accounting for 2.94% of its total population.

Syria is among the top ten countries, with 39.6% of citizens showcasing their interest in cryptocurrencies in a survey.No argument could stand against the fact that Turkey and Syria need humanitarian aid and support as much as possible.

The 7.8 magnitude earthquake is the strongest witnessed in the region in over a century. Aftershocks were cruel in number and intensity—the biggest being 7.5 magnitudes. According to the US Geological Survey, the epicenter was 23 kilometers east of Nurdagi in Gaziantep province of Turkey and was 24.1 kilometers underground.

According to other media sources, the death toll of Turkey-Syria crossed 40000, more casualties are expected to occur, and over 1000+ are admitted to hospitals. The non-profit organizations provide cash, basic food items, and other essential resources for females and women.

The number of donations will be divided into four: CARE, World Central Kitchen, Mercy Corps, and International Rescue Committee. CARE provides food, shelter, heating supply, and cash.

The youngest crypto enthusiast and founder of Ethereum, Vatalik, donated 99 ETH to Ahbap on February 11, 2023, and later donated 50 ETH to Anka Relief. The Tezoz community also plans to donate 50,000 XTZ(Native tokens of Tezos).

At the press time, the native of Ripple XRP was trading at $0.3991 with a 24-hour trading volume of $1,152,687,100. The prices of XRP jumped approximately 4.50% in the last five days’ trading session.

XRP is ranked 6th with 1.82% of market dominance. The token traded at around $3.84 in January 2018, and the lowest traded at $0.002802 on July 07, 2014.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing