While increased regulatory pressure worldwide, coupled with a number of other disconcerting developments, have shaken the crypto market, not everything is in the negatives. The usage of crypto for the greater good is on the rise in the cryptoverse; during the past week, 2 major cryptocurrency donors – the Pineapple Fund and Ethereum co-founder Vitalik Buterin – donated more than $7 million in crypto to various charities.
The Pineapple Fund, an organization established by an anonymous individual, recently made a crypto donation worth $5 million to the Open Medicine Foundation (OMF). The OMF is a California-based non-profit research organization conducting research into a variety of chronic complex diseases.
The Pineapple Fund was set up by an anonymous donor dubbed “Pine”, who has stated that they were an early investor/miner of Bitcoin, who ended up making a fortune after the price of BTC skyrocketed. Pine, who claims to have one of the richest 250 Bitcoin addresses, has decided to use their crypto fortune for the greater good, by making donations in Bitcoin to various charities. To date, the Pineapple Fund (worth $86 million) has donated around $37 million to 42 charities.
In January this year, the Pineapple Fund made a $1 million donation to the OMF – the staggeringly positive and grateful responses to the donation led the Pineapple Fund to donate $4 million more this Friday via BitPay, bringing the donation up to a total of $5 million in BTC.
“This significant donation will help OMF accelerate and expand current research into ME (myalgic encephalomyelitis), CFS (chronic fatigue syndrome) and other chronic complex diseases and to keep fighting for a better future for patients,” said OMF founder and president Linda Tannenbaum.
In related news, Ethereum’s Vitalik Buterin recently donated $2.4 million in Ether to SENS Research Foundation (SRF), a nonprofit focused on aging-related diseases. SENS was co-founded in 2009 by Aubrey de Grey – a gerontologist researching methods to extend human beings’ biological ages via rejuvenative treatments.
Admitting that he has been “a fan of Aubrey’s work” since he was a teenager, Buterin stated:
“… I am happy to have been blessed with the opportunity to personally support SENS's efforts. Their focus on creating solutions to the diseases of aging, one of the greatest problems facing humanity, is very much in line with my goal to positively impact the lives of millions of people around the world.”
SENS thanked Buterin for his generous donation, which they said was his second one to the organization, and dubbed his support as critical for the expansion of their programs.
“Our work to cure the diseases of aging is dependent on the generous support of our donors and we appreciate his [Buterin’s] support tremendously,” said SENS CEO Mike Kope.
In addition to Buterin’s recent donation, SENS have also received a generous $2 million from the Pineapple Fund - $1 million was donated in December last year, followed by an additional $1 million earlier this month.