The Web3 community is raising millions within hours to help those in need in Turkey and Syria region. One among them was Ripple. Ripple gave Turkey and Syria XRP worth $1 million XRP is a cryptocurrency that launched in 2012. It serves its payment network, Ripple Net, and native asset. At launch, 100B XRP tokens were pre-mined and distributed to individuals and companies. According to Chainalysis, there has been a donation of more than $9 million in cryptocurrencies. Recently, Ripple disclosed that it is contributing $1 million in XRP tokens to aid quake victims in Syria and Turkey. AHBAP, a nonprofit organisation supported by well-known musician and artist Haluk Levent, initiated the fundraising project. More than $9 million worth of cryptocurrency have been sent to Turkey and Syria, claims Chainalysis. Alongside, several well-known figures in the cryptocurrency sector expressed their affection in the form of cryptocurrency. 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. Ripple Vs SEC Lawsuit Update – In response to the SEC's accusation, Ripple is defending itself, and it is waiting for the judge to rule on its case. The majority of users of Ripple's cross-border payment service are institutional clients like banks and other traditional financial systems. The Ripple v. SEC lawsuit is becoming more serious as American regulators pay closer attention to the cryptocurrency market. The Binance-backed BUSD stablecoin has already been discontinued by the New York State Department of Financial Services, and following SEC action, the Kraken cryptocurrency exchange stopped offering staking programmes. Ripple CEO Brad Garlinghouse has also threatened to exit the US market should the SEC prevail in its case against the company. Jesse Haynes Opens up in a Recent Tweet Jesse Haynes, a Web3 lawyer, emphasized in a recent tweet that everything has advantages and disadvantages. In his tweet, Haynes seems optimistic about the whole case regardless of the outcome. He has predicted that whether the ruling is positive or negative, it is beneficial to Ripple. Factors like global recognition and growing adoption could propel XRP prices to greater heights. But, If the SEC further pushes the lawsuit or a decision comes against XRP then the Ripple Price would end up trading at $0.5850 as per prediction made by coinpedia expert analyst.
What a poorly written article. Who is the writer ?!?! First, it talks about donations. Then it is about advertisement. Then it talks about the lawsuit not related to donations. Why can't they donate currencies like the Syrian Pound SYP, USD ... to Syria? I doubt they can use crypto to buy milk, bread, oil, water, medicine, machines to rescue people trapped in collapsed buildings .... Are those donors donating with sincere hearts? Or are they trying to promote crypto?
What a great asset. People can send money to poor countries in need for almost nothing. If you dont see the utility here then you should be trading stocks
%% LOL; SBF, not to worry is out of jail on bail. Bernie M died in jail, so some would say\ today\ -that's progress??. EDOG has turkey exposure, not sure if anything has Syria -soviet satellite exposure?? Not a prediction or a buy .