In a tweet posted on 23 January 2019, Twitter user CryptoPinapple who was the winner of a competition held by Binance academy revealed that he or she gave the prize of the competition, which was a custom Ledger Nano hardware wallet, to a young Indian school girl. Additionally, the wallet was loaded with cryptocurrencies worth 1 BTC (approx. $3,600 at the time of writing).
While the value of the contents in the wallet was worth 1 BTC, the value was supposedly added up by having 20% of Bitcoin (BTC), 20% of Ethereum (ETH), 10% of TRON (TRX), 10% of Stellar (XLM) and 10% of Bitcoin Cash (BCH). The remaining 30% was unspecified.
CryptoPinapple did not reveal how the receiver of the wallet was decided, however a picture of the receiver was included in the tweet, in which the receiver was clearly very young and most probably of primary school age.
Various Twitter users took notice of the tweet, and some commented on issues related to the wallet’s security, such as the potential of the receiver losing it or having it stolen from her. CryptoPinapple stated that the wallet will be secured inside a locked safe and be only given to her when she reaches the age of 18. The fact that information of the receiver was not disclosed is probably a safety measure taken by the philanthropist as well.
There were other Twitter users who gave their opinions on the way the wallet was filled. Some stated that it would have been more profitable for the receiver if the wallet contained purely BTC only as the cryptocurrency had the largest potential of staying ahead in the future and maximising the receiver’s gains. CryptoPinapple replied saying that the projects chosen were those expected to have a long lifespan and only time can tell whether predictions stay true.
The donation was noticed by another philanthropist as well, namely Changpeng Zhao, the CEO of Binance who goes by the name ‘CZ Binance’ on Twitter. CZ donated 100% of new listing fees obtained in October 2018 to multiple parties that required the help. Additionally, a charitable wing was also established in his company. He stated that the educational exposure given to the young receiver regarding the crypto world is a lot more valuable compared to the financial value 1 BTC holds which is by no means low.
Charity in the crypto world is not rare at all. Those who are familiar with happenings in the crypto world probably know of the famous Pineapple Fund. The fund was found in December 2017 when BTC was at its peak, resulting in some investors earning enormous amounts of profits from their BTC investments. The Pineapple Fund was announced on 14 December 2017 through a Reddit post by a user who went by the name ‘Pine’. The pseudonymous user stated that he or she did not have the wish of becoming “mega rich”, thus decided to donate the majority of his or her BTC earnings to charitable causes.
The fund ended up donating to over 60 different charities, totalling 5.057 BTC. The donations initially valued approximately $86 million but dropped to around $55 million when they were finally given out due to the bear market that hit the cryptocurrency soon after. Organizations of different causes received the donations, including those related to conservation, human rights and psychedelic drug therapy.
Hopefully, in a future where cryptocurrencies regain their glory or even surpass their past achievements, similar acts of kindness will once again be carried out across the globe through efforts of members from the crypto world.
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