RippleWorks provides practical support to entrepreneurs so that they can develop their business further.
A Twitter user mentioned that Ripple is using the money that belongs to the XPR owners to buy shares in other companies.
Ripple, one of the most popular Blockchain organization, has recently made a deal with Rippleworks intending to support ‘powerful initiatives’ on a global scale. American Business magazine Fast Company, RippleWorks, is one of the most successful non-profit organizations in 2020.
RippleWorks was established by its CEO Doug Galen and Chris Larsen, who used to head Ripple, in 2015. RippleWorks provides practical support to entrepreneurs so that they can develop their business further.
The support includes both expert advice and financial aids. Larsen, who is considered to be one of the wealthiest people in the cryptocurrency industry, donated money to kickstart RippleWorks.
The not-for-profit organization grew tremendously during 2017 when XRP was growing at a rapid pace. As of 2019, Rippleworks has assets worth over $370 million. Larsen mentioned that he is happy that he feels proud to be recognized by Fast Company. However, there’s a lot of work to be done.
“Doug Gallen and I started Rippleworks 5 years ago to support practitioners tackling some of the toughest challenges of our time. While there’s so much more to do, I want to take a moment to celebrate the entire team on this achievement. Couldn’t be more proud!,” he said.
However, at the very moment, some members belonging to the cryptocurrency community were unimpressed by this new partnership. For them, it is another one of those paid partnerships. They believe that a company that was also founded by the CEO of Ripple’s collaboration with Ripple is nothing impressive.
A Twitter user mentioned that Ripple is using the money that belongs to the XPR owners to buy shares in other companies. This move by Ripple is like dumping all their XPR holders. It is not the first time that XPR holders are criticizing Ripple. Earlier, Ripple’s partner MoneyGram revealed that it was paid by Ripple to use Ripple’s software.