Reportedly, about 10,000 buildings have been destroyed, over 36,000 killed, and more than 50,000 people trapped beneath the rubble, leaving over 13 million people in need of assistance in Turkey and Syria. 

According to an announcement published a couple of hours ago, Ripple is pledging up to $1,000,000 in XRP to finance non-governmental organizations (NGOs) that are providing humanitarian aid to the above earthquake-stricken nations. 

Notably, Ripple is making these financial commitments via a cause fund dubbed Crypto For Charity and the San Francisco-headquartered payments company is calling on more crypto projects to make voluntary donations to support victims of the Turkey-Syria earthquake. 

As per the update, Ripple donated $250,000 in XRP, disclosing that it would match 2:1 all crypto donations made to the relief, up to $750,000. 

“We are committing $1M in XRP to support NGOs providing earthquake relief in Turkey and Syria – through a relief fund on Crypto4charity and are donating 250k USD in XRP and will also match 2:1 all crypto donations here, up to $750k,” Ripple tweeted. 

We are committing $1M in XRP to support NGOs providing earthquake relief in Turkey and Syria – through a relief fund on @crypto4charity_ and are donating $250k USD in XRP and will also match 2:1 all crypto donations here, up to $750k USD. https://t.co/5baCiawOJr

— Ripple (@Ripple) February 14, 2023

The company added that grants made to the Crypto For Charity fund will be distributed equally among the included four non-profit organizations. These NGOs include CARE, World Central Kitchen, Mercy Corps, and the International Rescue Committee (IRC).

CARE provides food, shelter, hygiene kits, warmth supplies, and cash assistance in Syria and Turkey, while World Central Kitchen focuses on distributing meals for survivors and first responders in Turkey. On the other hand, Mercy Corps delivers essential supplies in Syria. Whereas, the International Rescue Committee (IRC) majors in the provision of immediate cash, hygiene supplies, health services, and safe spaces for women and children in both Turkey and Syria. 

Read Also: Bank of England Working With Ripple For Digital Pound Development

It’s worth noting that Ethereum co-founder Vitalik Buterin and the Tezos Foundation are among the crypto entities that have donated to the earthquake relief cause. In Buterin’s last two donations, he committed a total of 149 ETH to help victims of the natural disaster. Data on Crypto Ahbap show that $4,489,610 have been donated so far, at the time of writing. 

The #TezQuakeAid initiative would like to express our gratitude to the @TezosFoundation for agreeing to support in facilitating the transfer to the NGOs.

We have successfully transferred 50,000 XTZ to the Tezos foundation wallet. We will share all relevant information soon.

— TezQuakeAid (@tezquakeaid) February 13, 2023

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The post Ripple to Commit about $1 Million in XRP For Turkey-Syria Earthquake Relief  appeared first on Times Tabloid.

Although the exchange discretely removed the tokens mentioned above, it decided to add Ziliqa (ZIL), Fantom (FTM), and NEAR to the list.

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The exchange also said in the announcement that it will be modifying the reward rates for five different stablecoins, including TGBP, TAUD, TCAD, TUSD, and USDP (Paxos USD), which are crypto-assets pegged to the British Pound, Australian Dollar, Canadian Dollar, and US Dollar.

As for other digital currencies such as Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX), and Solana (SOL), their rewards rates remain unchanged.

Read Also: Switchere Exchange and Shiba Inu Army Likely Working on a Big Surprise: Details

Mixed Reactions Greet the Decision

As expected, the news was greeted with mixed reactions from the crypto community members. A number of users on Twitter said that it was a shame that Crypto.com removed Shiba Inu (SHIB) and Dogecoin (DOGE) from its list of options.

Others said that the exchange’s interest rates were so low that they were comparable to a traditional bank. One Bitcoin holder said, “Not worth to lockup any funds!”

Although many were disappointed by the news as mentioned above, some others argued that Crypto.com was making positive strides toward “long-term sustainability.”

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The post Crypto.com Removes Shiba Inu (SHIB), Dogecoin (DOGE) and 13 Others From Its Earn Rewards Program appeared first on Times Tabloid.