Cryptocurrencies are no longer just a tool of speculation or means of payment. Today, they play a crucial role in philanthropy, enabling fast and transparent transfers to support significant social and humanitarian projects. Here are five cryptocurrencies actively involved in charitable initiatives — and how these contributions affect their reputation and market value.
Bitcoin (BTC)
In 2020, Twitter founder Jack Dorsey donated $1 billion in Bitcoin (about 28,000 BTC) to support COVID-19 relief efforts and other humanitarian initiatives through his #startsmall foundation.
The crypto and charity communities alike welcomed this move, noting titcoin’s effectiveness as a tool for fast, global transactions. Although this donation didn’t cause a sharp increase in BTC price, it reinforced Bitcoin’s reputation as a reliable medium for large-scale transfers.
Ethereum (ETH)
In 2021, Ethereum founder Vitalik Buterin donated over $1 billion in ETH and other cryptocurrencies to the India COVID-Crypto Relief Fund.
This contribution was perceived as a major step addressing the global crisis. Many praised Buterin for leveraging his wealth to create real-world impact, boosting Ethereum’s credibility as a blockchain platform for social good. While the news led to a short-term increase in interest in ETH, its main impact was long-term — solidifying Ethereum’s reputation as a blockchain for charity and social initiatives.
Binance Coin (BNB)
The Binance Charity Foundation (BCF) actively uses BNB to support educational programs, combat hunger, and aid victims of natural disasters. For example, in 2022, BCF donated $10 million to BNB to help flood victims in Pakistan.
The Binance Charity Foundation’s transparency and effectiveness earned praise from the crypto community. Using BNB for philanthropy also reinforced its utility beyond trading, strengthening trust in the Binance ecosystem and positively influencing BNB’s value.
Ripple (XRP)
Ripple and its co-founder, Chris Larsen, actively support educational initiatives and the fight against poverty. In 2018, Larsen donated $29 million in XRP to fund scholarships for students from low-income families.
While this was seen as a meaningful investment in education, some critics speculated it might have been a PR move, given Ripple’s ongoing legal battles with the SEC. Although the donation didn’t lead to a major Ripple price increase, it helped position Ripple as a socially responsible company.
Dogecoin (DOGE)
The Dogecoin community is known for its grassroots charity efforts. In 2014, they raised $30,000 in DOGE to send the Jamaican bobsleigh team to the Sochi Olympics. In 2021, the community raised over $200,000 to build wells in Kenya.
These initiatives generated widespread goodwill, reinforcing Dogecoin’s reputation as the “friendly” cryptocurrency. While such acts of generosity don’t necessarily drive long-term price growth, they enhance DOGE’s popularity among everyday users and can contribute to short-term price fluctuations.
Charitable giving is becoming a vital part of many cryptocurrency projects’ strategies. Not only does it help address global challenges, but it also builds trust in digital assets. Over the long term, these philanthropic efforts could play a key role in driving the growth and sustainability of cryptocurrencies in the market.
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