It’s no secret that business leaders globally are facing an economic downturn due to the pandemic. However, head honchos in the blockchain industry are playing their part to support those affected by the coronavirus chaos. 

Ripple, for instance, the company behind the XRP cryptocurrencyannounced on its Twitter account that it would be donating $200,000 where $100,000 each would be given to Tipping Point Community’s COVID emergency response fund and Silicon Valley Community Foundation’s COVID regional response fund. 

Furthermore, Ripple also encouraged its followers to donate to support the World Health Organization. Additionally, CEO Brad Garlinghouse ensured that the employees were safe amid the global crisis and therefore enacted remote working measures for the team. He tweeted: 

Ripple is hardly alone. Global cryptocurrency exchange platform Binance launched a charity, Crypto Against Covid. It announced that it will donate $1 to its charity for every tweet with the hashtag #CryptoAgainstCOVID to fight against COVID-19 and will go up to $1 million. In addition, it also pledged to donate an extra $1 million if it gets a million retweets within the next week.

Elsewhere, Gitcoin announced that $100,000 will be allocated towards COVID-19 related projects which are focused on research, response, and recovery efforts within communities. 

Gitcoin is also worked along with The Giving Block to launch a bigger campaign Giving Block crypto charity drive. In a statement on March 23, it announced that the #cryptoCOVID19 alliance will give donations made in crypto to nonprofit partners including Save the Children, No Kid Hungry, Us4Warriors, among others. 

“Today, donating cryptocurrency is not just a way to lower our taxes. It is our chance to protect the people we love, all while telling the new crypto story. To turn sideways glances into admiration. Today we write the first page of our story. Help us squash this bug,” Alex Wilson, The Giving Block CEO said in a statement.