In the dynamic blockchain landscape, the recent integration between Shibarium, a Shiba Inu layer 2 solution, and the charitable foundation of Manny Pacquiao, iconic boxing figure and former senator of the Philippines, marks a significant advancement. This collaboration promises to boost the use of cryptocurrencies in humanitarian initiatives, symbolizing an important milestone for the sector.
Manny Pacquiao, recognized both for his victories in the ring and his commitment to philanthropic actions, chose the Shibarium blockchain to facilitate the operations of his charitable foundation. This partnership seeks to optimize fundraising and distribution processes, reflecting the growing adoption of cryptocurrencies in sectors beyond finance.
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For those who would like to support the Manny Pacquiao Foundation in helping those… pic.twitter.com/p5b2FHKcIH
- Shib (@Shibtoken) November 14, 2023
The Shiba Inu community, known as the SHIB Army, welcomed this news with evident enthusiasm. On social media, this user base expressed optimism about the potential for growth and innovation this partnership brings to Shibarium and the cryptocurrency ecosystem as a whole.
The Manny Pacquiao Foundation, registered as a 501(c)(3) non-profit organization in California, is not new to the cryptocurrency field. Since 2021, the foundation has been accepting donations in cryptocurrencies, in addition to fiat currency. The foundation's official website highlights the efficiency of cryptocurrency transactions compared to traditional bank transactions, highlighting the practicality and speed of this means of donation.
In an exciting announcement, Manny Pacquiao expressed his gratitude to the Shiba Inu community and the SHIB Token development team, for an article dedicated to him in the second issue of The SHIB Magazine. His words reflect a genuine recognition of the positive impact cryptocurrency can have on humanitarian efforts.
The Pacquiao Foundation's mission is clear: fight for those in need. As expressed by Pacquiao himself, the foundation is dedicated to noble causes. Additionally, each donation made through the foundation's website is accompanied by a tax receipt, making the process easier for donors, who are exempt from capital gains tax on direct donations to 501c3 nonprofits but still eligible for tax returns. .
Recently, the foundation has expanded its philanthropic endeavors, focusing on helping victims of sex trafficking in the Philippines and surrounding regions, launching a housing initiative for the homeless, and creating a multi-faceted fund for Coronavirus victim assistance. These initiatives have already helped more than a million people in need.