Ripple backs launch of crypto-focused nonprofit with $50M grant

The blockchain firm still faces legal action in appellate court from the SEC as its CEO plans to attend a crypto summit at the White House on March 7.

Update (March 5 at 6:58 pm UTC): This article has been updated to include a statement from Stuart Alderoty.

Blockchain payments firm Ripple Labs has announced it will be involved with launching a nonprofit organization focused on education toward “how crypto is empowering everyday people and businesses.”

In a March 5 X post, Ripple chief legal officer Stuart Alderoty said he would be the president of the newly formed National Cryptocurrency Association (NCA) in addition to his duties at the blockchain firm. CEO Brad Garlinghouse added Ripple would fund the nonprofit with a $50-million grant.

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