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HomeCrypto NewsMarketRipple Condemns Russia's Invasion of Ukraine, Donates $1 Million

Ripple Condemns Russia’s Invasion of Ukraine, Donates $1 Million


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Blockchain Company Ripple Condemns Russia’s Invasion of Ukraine, Donates $1 Million to NGOs.

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Famous blockchain company Ripple has announced a $1 million donation to humanitarian organizations in Ukraine committed to helping people affected by the ongoing war. 

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The donations will be shared explicitly between the United Nations Refugee Agency (UNHCR) and the World Central Kitchen. 

“Ripple stands with Ukraine against the Russian invasion. Today, we’re donating $1M shared between @refugees and @WCKitchen to bolster their incredible efforts helping displaced people in Ukraine and neighboring countries,” the blockchain company said in an announcement today.

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While the UN refugee agency will use the funds to cater to displaced people in Ukraine and neighboring countries, the World Kitchen organization, launched in 2010, will use its share of the donation to feed victims of the ongoing war. 

Commenting on the move, Ripple CEO and founder Brad Garlinghouse publicly condemned Russia’s invasion of Ukraine, saying the attack being carried out by Russian forces on Ukraine is “unprovoked, unjustified, and unacceptable to maintain some semblance of global order.” 

He added that the donations made to humanitarian organizations by the company match its employees’ donations on a 2:1 scale. 

While other crypto-related companies and enthusiasts have been donating large amounts of cryptocurrencies to support Ukraine, Ripple said it would develop a crypto-to-cash direct giving program to see these humanitarian organizations directly receive fiat. 

Cryptocurrency Community Support for Ukraine

Recall that since the beginning of Russia’s invasion of Ukraine, the global cryptocurrency community has thrown its weight behind Ukraine, providing financial assistance in the form of cryptocurrencies in a bid to alleviate the impact of the ongoing crisis in the country. 

As per a report published by blockchain company Elliptic, cryptocurrency enthusiasts have so far donated over $40 million to different humanitarian efforts in Ukraine. 

The large donations prompted the country to announce an airdrop of Peaceful World tokens (WORLD) allocated to donors. 

However, the country canceled the airdrop initiative last minute, saying it would instead support its armed forces with non-fungible tokens (NFTs). 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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