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Jobs at BTCManager Don’t miss out on the latest news Get BTCMANAGER delivered right to your inbox A conference that seeks to bring the use of Blockchain technology closer to people, explaining the origin, adoption and potential May 7, 2018 17:00
by Samantha Chang A San Francisco charity that accepts cryptocurrencies raised $14 million in donations, including bitcoin, ether, and ripple, to benefit the homeless in yet another sign that mainstream adoption of virtual currencies is on the rise. Many top Silicon Valley tech moguls and financiers attended the May 3 charity gala hosted by the nonprofit Tipping Point Community, Bloomberg reported.

The guest list was a who’s-who of crypto superstars, including: Tipping Point Community is one of the few charities in the United States that embraces cryptocurrency donations, but observers say that’s a trend that will mushroom. “I think a lot more charities will be accepting crypto in the future,” said Coinbase CEO Brian Armstrong.

A Tipping Point rep said the cryptocurrency donations, which were made with a QR code printed in the program, will be converted into U.S. dollars and used within the next fiscal year to fight poverty and homelessness. Ripple boss Chris Larsen was heartened that Silicon Valley moguls are using their newfound riches to help those less fortunate than themselves.

“This is all about making sure that wealth is getting to people who need it most, and this helps lubricate that goal,” Larsen said. Homelessness in San Francisco has skyrocketed in recent years, and Silicon Valley’s tech millionaires and billionaires have stepped up to spread the wealth.

This commitment to helping the underprivileged is a hallmark of Ethereum co-founder Vitalik Buterin, as BTCManager previously reported. Buterin — whose net worth reportedly tops $400 million — said one of his goals is to use his crypto wealth to make a positive impact on the world. Read more from…

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