At a gala night in San Francisco on Thursday, America’s newly wealthy showed they can raise some serious money to fight poverty in the Bay area, according to Bloomberg reports. But, what catches the eye is that Silicon Valley galas are now accepting donations in cryptocurrencies with Tipping Point Community [TPC] raising more than $14 million at the gala. The gala also saw some famous faces from the crypto-town like Brain Armstrong from Coinbase and Chris Larsen from Ripple as guests.
The organization accepted cryptocurrency donations considering the popularity associated with it, but the currency acceptance was limited to Bitcoin, Ethereum, and Ripple, reported Bloomberg.
Confirming his presence, Larsen stated:
“It’s great to see in the Bay Area because this is all about making sure that wealth is getting to people who need it most, and this helps lubricate that goal.”
Brian also gave out one such statement:
“I think a lot more charities will be accepting crypto in the future.”
Tipping Point brings a technology and data-driven approach to employment, education, housing and early childhood development that’s earned a following among the region’s developing philanthropists. It’s tapping their intellectual and financial capital and is led by Daniel Lurie, a former staffer of New York’s Robin Hood Foundation.
The donation was necessary considering some urgent issues in the region. They raised $33 million as a response to North Bay fires and committed $100 million for chronically homeless people in San Fransisco which they wish to reduce by half the number by 2020.
Apart from the above-mentioned cryptocurrencies that were accepted during the fund-raising, one of the other talks of the crypto town coin is Tron [TRX] which posted boldly stating:
#TRON #TRX has been accepted as a method of public charity fund-raising by a well-known American charity.”
The event was conducted with a clear motive to eliminate poverty in the Gulf region but what was unclear is the acceptance of TRX in the same. There is a possibility that TRX might be accepted once they have their own public blockchain with TRX tokens and no more dependent on ERC-20 tokens. As of now, there are no confirmed announcements or news released about TRX being accepted except Tron’s own tweet.
Redditors and Twitterati’s have been continuously questioning with confusion trying to get some clarity,
“I just checked, and they do not accept TRX…They accept Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple.”
“Probably pending. Perhaps waiting until TRON launches it’s mainnet and isn’t an ERC20 token anymore. I’ll remove the post until we get further clarification.”
“You’ve mistaken them with the American Charity who is going to Partner with an ultra-secret Chinese Charity – TBD.”
“I don’t think this is correct, TRON team. See the article, it was Ripple that was used. TRON also not on the tipping point website. No FUD. Just hope you can clarify. Looks like an innocent mistake.”
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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
Crypto News – 25 May – Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
— AMBCrypto (@CryptoAmb) 25 May 2019
Daily Crypto News – May 25
1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.
Read more at https://bit.ly/2VRQwb0
2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.
Read more at https://bit.ly/2W40sTR
3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.
Read more at https://bit.ly/2X6fdlw
4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.
Read more at https://bit.ly/2McaTjE
5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.
Read more at https://bit.ly/2wmk4mJ
6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.
Read more at https://bit.ly/2HUEnNB
7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.
Read more at https://bit.ly/2W64KKj
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