Ripple Pledges $25 Million to Support US Education Nonprofits

Ripple, a prominent US-based crypto services firm known for its XRP Ledger, has pledged a significant $25 million in Ripple USD (RLUSD) to support education nonprofits DonorsChoose and Teach For America. This substantial commitment is aimed at enhancing educational resources and opportunities for teachers and students across the United States.

The grant will be managed through The Giving Block, a crypto charity intermediary service. DonorsChoose CEO Alix Guerrier emphasized the financial strain teachers often face, stating that many educators spend hundreds, sometimes thousands, of dollars out-of-pocket to provide essential resources for their classrooms. The donations from Ripple are intended to alleviate this burden and ensure that teachers have the necessary tools to deliver quality education.

Ripple's decision to support these nonprofits is driven by a 2024 Gallup survey, which revealed that 55% of US parents and adults are dissatisfied with the current state of K-12 education in the country. This dissatisfaction underscores the need for increased funding and resources to address the constraints and gaps in the educational system. Ripple CEO Brad Garlinghouse expressed hope that this initiative will inspire others to contribute, especially during Teacher Appreciation Week and throughout the year, to support students and teachers in building a stronger future.

Teach For America CEO Aneesh Sohoni highlighted that the new funding will enable the organization to expand its Ignite Tutoring Fellows program, drive innovation in its Reinvention Lab, and provide crucial financial assistance to prepare teachers. This support is expected to have a profound impact on the quality of education and the professional development of educators.

The cryptocurrency industry has a history of charitable donations, with recent examples including Binance co-founder Changpeng “CZ” Zhao pledging over half a million dollars worth of crypto to earthquake disaster relief efforts in Thailand and Myanmar. The Giving Block forecasts that crypto donations could reach $2.5 billion by 2025, indicating a growing trend of philanthropy within the industry. Another notable player, Blockchain For Impact (BFI), committed $90 million in March to advance biomedical research, further demonstrating the sector's commitment to social causes.