Ripple donates $29 million to public schools

Following a petition on that received thousands of requests, Ripple listened.  The cryptocurrency company has donated $29 million of its digital currency to US public schools, which will be spread across the schools to purchase classroom materials.  In total, 28,000 teachers will benefit from the donation.

According to Ripple, the eight-figure donation is the largest cryptocurrency donation ever given to a single cause.  The relatively young company was contacted by the CEO of, Charles Best, and asked to fulfill the teachers’ request.  Says Best, "To my own shock, they said yes.  It was mind-blowing that it would be the largest donation of cryptocurrency."

Best launched 18 years ago.  The former history teacher created the site as a means for teachers to request public assistance for an array of material, such as art supplies, books or other educational material.  The site will liquidate the crypto into fiat over the course of two weeks, in an effort to not flood Ripple’s market, which would deflate the value.

Ripple is the third-largest cryptocurrency by market capitalization.   It is currently trading around $0.53, suffering the same declines as seen by all major digital currencies.  The company owns about 60 billion of the 100 billion coins produced, giving it a value of around $34 million.  

Don't Miss these ACR News Stories


Join the most trusted US poker site since 2001 and get a 100% bonus on your first deposit, up to $1,000 !



Stay up to date on the latest poker news through social media. Join us at Facebook/americascardroomeu and follow us @ACR_POKER on Twitter. We invite you to share ideas and reactions.