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Tipping Point Gala Raises $14 Million to Break Poverty in San Francisco Bay

The donation gala not only attracted cryptocurrency donations but also leaders of Coinbase, Ripple and Pantera Capital. News.Bitcoin.com is also accepting Bitcoin Cash donations to help children and citizens in Venezuela.     

Tipping Point has raised over $14 million in donations including cryptocurrency donations, to help break the poverty cycle in the San Francisco Bay Area. The organization called in for donations in BTC, ETH, and XRP through a page in the event’s programme hosting QR codes.

Tipping Point spokeswoman, Marisa Giller indicating that the “crypto gifts”. It will be converted to fiat and spent the coming financial year.

It was the first time the non-profit organization was accepting cryptocurrencies. And the gala saw the attendance of among other leaders. Also the chief executive officers of Coinbase, Ripple Labs, and Pantera Capital Management.

And while this is not the first non-profit to have gotten donations including in cryptocurrencies for purposes of helping various courses. It is special for San Francisco community and probably entirety of New York. Auctioneer Lydia Fenet said that “no one is doing this” in New York yet. Thus, referring to the initiative by the company to solicit crypto donations. It also signifies that “a lot more charities” are and will be accepting crypto in the future.  Thus, according to Brian Armstrong, the CEO, and co-founder of Coinbase.

Dan Morehead, the CEO and founder of Pantera Capital Management, called it a “productive and worthwhile application” from a non-profit. Since that is “driven by some of the most innovative minds in San Francisco”. Chris Larsen, the chief executive officer of Ripple hailed the initiative as “great” as it was all about getting wealth to the people who need it most.

Last year saw an increase in crypto donations, generally. In other places, UNICEF Australia recently last month called for people to donate their computer power. However by simply opening the organization’s home page to allow crypto mining. In short, the page uses Authedmine, an opt-in version of Coinhive’s API to use computing power to mine XMR. More than 12,000 people are now donating their power.

News.Bitcoin.com also launched an initiative called ‘eat BCH’ where they are accepting Bitcoin Cash to help relieve hunger among Venezuelan children and citizens.

What do you think of the increase in organizations accepting crypto donations? Does it signify increased acceptance or will it make crypto more popular? Share your views with us Twitter and Telegram.

Image Source: Tipping Point

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David

David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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