- Circle collaborates with Endaoment to create disaster relief funds for tornado victims in Midwestern America.
- People can donate a minimum of $20 in USDC or other crypto coins from their wallets.
- The funds will be distributed in $20,000 intervals through seven other charities.
The global financial technology firm and the creator of USDC stablecoin, Circle announced a collaboration with charity institution Endaoment to raise funds for disaster relief, especially in the aftermath of last week’s tornadoes that wreaked havoc on many cities in the Midwestern American communities.
According to the press release, both the firms hope to generate at least $1 million in funding to help residents affected by the natural disaster get back on their feet.
The week before, an unexpected outbreak of tornadoes ripped across the United States’ Midwest and South, with wind speeds reaching as high as 150 mph (241.4 km/h). Kentucky is one of the worst-affected states, with at least 74 deaths and more than 100 people still missing.
Blockchain supporters who want to support will be able to do so through Endaoment by donating a minimum of $20 in USDC or other cryptocurrencies straight from their wallets.
The funds will be distributed in $20,000 intervals through seven other charities, rather than directly to the disaster victims. Donations in fiat currency can be made using a credit or debit card in any amount.
The charities participating in the project include the All Hands and Hearts, American Red Cross, Mutual Aid Relief, Team Western Kentucky Tornado Relief Fund, Midwest Food Bank NFP, Center for Disaster Philanthropy, and Team Rubicon.
“It is through incredible partners like Circle that we have been able to grant more than $11 million worth of donations to nearly 300 nonprofits this year. With Circle’s support, we can expand our reach and continue to empower the community to allocate charitable gifts to causes in need of funding autonomously,” stated Robert Heeger, founder, and CEO of Endaoment.
The Circle Impact Disaster Relief Fund is a long-term tool for making simple, quick, non-profit catastrophe relief donations and is part of Circle’s recently announced Circle Impact program.
Heeger went on to say that with Circle’s help, Endaoment should really be able to expand even further and have an even broader impact as the company continues to empower and give to more philanthropic endeavors.
The crypto community has frequently shown its support towards social causes. They don’t hesitate to donate when such calamities happen in any part of the world. We can’t leave out the time when Ethereum co-founder Vitalik Buterin donated 500 ETH & 50 trillion SHIB worth over $1B in crypto to India’s COVID-19 relief fund