Circle, the company that created the USDC stablecoin, announced a partnership with public charity Endaoment to create a disaster relief fund. The fund will help Midwestern American communities impacted by last week's deadly tornadoes. The two entities hope to raise $1 million in grants to support the American Red Cross and local non-profits.
Via Endaoment, blockchain enthusiasts will be able to contribute USDC or other cryptos directly using connected wallets with a minimum donation of $20. The funds will be distributed in $20,000 intervals to seven participating charities: the Team Western Kentucky Tornado Relief Fund, the Center for Disaster Philanthropy, Team Rubicon, All Hands and Hearts, the Midwest Food Bank NFP, the American Red Cross and Mutual Aid Relief. At the time of publication, the fund has received over $4,600 in donations.
Robert Heeger, founder and CEO of Endaoment, said the following regarding the partnership:
"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."
An unusual cluster of tornadoes swept across the Midwestern and Southern regions o the United States the week prior, with wind speeds reaching as high as 150 mph (241.4 km/h). Kentucky was one of the hardest-hit states, with at least 74 fatalities and more than 100 missing persons still unaccounted for.