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.”