Ripple Donated $29 Million Worth of XRP to Charity

DooKey

DooKey

[H]F Junkie
Joined
Apr 25, 2001
Messages
12,707
Ripple holds around 62 percent of all the XRP supply and decided it was time to spend some and donated about $29M worth of them to the charity DonorsChoose. This charity provides funds to public schools for various projects. Ripple says they want to help schools and they are giving back. I can respect this decision and hope they continue to divest more of their tokens for good causes in the future. Thanks cageymaru.

Ripple is known to hold approximately 62 percent of all XRP tokens’ supply. This fact has attracted a lot of criticism from the wider cryptocurrency community, on the basis that the hold of Ripple over these tokens technically makes it centralized and gives Ripple an undue advantage for tampering with the supply-demand balance.
 
I am just wondering what this is going to do for their taxes....
 
I hope they cash their donation in pretty quick. From the time they dropped it in to now its already down 5 million bucks lol.
 
MrGuvernment said:
Any reason why?

Considering the backing Ripple already has and the banks using it and the ones testing it...
Click to expand...

See but Ripple, the technology that some banks are testing, and XRP are two different things. XRP seems like a scam to me, from what I understand. Any time I see pre-mined crypto... I'm immediately very skeptical.
 
jlobue10 said:
See but Ripple, the technology that some banks are testing, and XRP are two different things. XRP seems like a scam to me, from what I understand. Any time I see pre-mined crypto... I'm immediately very skeptical.
Click to expand...

Hearing some very quiet whispers that the testing isn't going very well, it doesn't seem to work. But take that with many grains of salt.
 
You must log in or register to reply here.
Back
Top