Ripple Donates $29 Million To Fund All 35,000 DonorsChoose Classroom Projects

  • Ripple donated $29 Million to DonorsChoose.com in its XRP token
  • The donation crashed the non-profit's website and funded its 35,000 ongoing campaigns

Cryptocurrencies are too often branded with negative press; rendering them synonymous with terms like "dark web." With the likes of Ripple, it's a stereotype that it seemingly doesn't deserve as the company keeps taking steps towards its goals.

Since its formation in 2012, Ripple has had a special interest in championing the blockchain cause, recognizing its place and responsibility in creating what it refers to as an 'Internet of Value'. It's an ambition Ripple has, to provide a method of payment as fast as information is obtained via the internet.

Over the last few months cryptocurrencies have been undergoing a bearish trend, despite their lofty ambitions. Ripple's XRP hasn't been an exception to this trend; According to CNBC, it was one of the worst performers in the first quarter of 2018, as its value plunged about 74 percent alongside others on the market.

Internet and Education of Value

The Internet of Value would not be possible without the classrooms and teachers that inspire entrepreneurial spirit within students. In the US, the education system finds itself grossly underfunded in many instances.

This led to the creation of DonorsChoose.org, a platform that gives teachers a way to crowdfund any project they want to. From major field trips to extra school supplies, it's provided teachers with an avenue to obtain much-needed support. Projects like Ripple wouldn't be possible without teachers and an education that allowed individuals to aspire to achieve their aspirations and projects.

It's with this in mind that recently, Ripple has committed to donating over $29 million to numerous projects on the website, as an excited Stephen Colbert announced.

Through a blog post on its website, Ripple revealed the donation was made in its XRP token, though it's believed it was immediately converted to USD. DonorsChoose, through a blog post, also commented on the generous donation. It reads:

“Today marks the first time in 18 years where the total number of projects on our site reads ‘0.' Thanks to Ripple’s gift, over the next few weeks tens of thousands more boxes full of supplies will start arriving in classrooms across the country.”

DonorsChoose

Binance US Considering Listing XRP, ADA, BNB, EOS, LINK and 25 Other Assets

Binance announced on Friday (August 9) that it is using a Digital Asset Risk Assessment Framework to evaluate 30 digital assets for listing on Binance US, its upcoming trading platform for its customers in the U.S.

As Coindesk reported on June 13, Binance announced on that day that it is planning to set up Binance US in partnership with a U.S. company called BAM Trading Technologies. 

It said that the operator of this platform would be BAM Trading Technologies, but the wallet and matching engine would be supplied by Binance.

Binance CEO Changpeng Zhao (aka "CZ") said at the time:

we are excited to finally launch Binance US and bring the security, speed, and liquidity of Binance.com to North America. Binance US will be led by our local partner BAM and will serve the U.S. market in full regulatory compliance.

Well, we did not hear more from Binance until earlier today, when it published a blog post to provide an update on the work being done to prepare for the launch of Binance US. This post was written by former Ripple executive Catherine Coley, who is the CEO of Binance US.

Here are the highlights of Coley's post:

  • During the past few months, the Binance US team has been "heads down, focused on developing for you a tailor-made platform to access cryptocurrencies in the United States."
  • Binance US is using a "Digital Asset Risk Assessment Framework" to choose blockchain projects that have "a real chance of making the world more efficient" and that are compliant with "applicable legal requirements."
  • Her team is evaluating 30 coins/tokens against this framework: ADA, ATOM, BAT, BCHABC, BNB, BTC, DASH, EOS, ETC, ETH, HOT, IOTA, LINK, LOOM, LTC, MANA, NANO, NEO, PAX, REP, RVN, TUSD, USDC, USDT, VET, WAVES, XLM, XRP, ZIL, ZRX.

Binance US - 30 Assets - 9 August 2019.jpg

CZ's tweet at 16:08 UTC (August 9) acknowledged that this blog post did not every possible question, but pointed out that it was an accurate status report:

It should be noted that just because there are 30 digital assets being considered for possible listing on Binance US, it does not mean that Binance US is planning at launch to offer a large number of cryptoassets, but it would not be too surprising if it decides to list at least some of the assets from the above list -- that are already listed on Coinbase, the crypto exchange that will be its biggest competitor.

Both Images Courtesy of Binance

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