It owns the San Francisco-based company Ripple Announce They are donating $100,000 worth of XRP to help California wildfire relief efforts via The Giving Block.

On January 10, the company also announced that it had donated $50,000 in RLUSD tokens to the Los Angeles Fire Department Foundation (LAFDF) in order to support first responders.

Last week, The Giving Block announced an initiative to raise a total of $2 million to help residents and businesses as well as first responders.

The fires, which displaced tens of thousands of people, caused economic losses estimated at $200 billion, according to some estimates. This is believed to be the most destructive fire in US history. The wildfires affected some of the country's most expensive and iconic neighborhoods, including Malibu.

The entertainment industry was greatly affected by the wildfires, with the Academy postponing Oscar nominations.

Major music companies, such as Sony Music Group and Universal Music Group (UMG), have also canceled all Grammy-related events in order to help wildfire victims with the help of redirected resources.

Verizon, Airbnb, Walmart, Disney and other major companies have made significant contributions.

Some individual celebrities have also come forward to help with wildfire relief efforts, with "Desperate Housewives" star Eva Longoria donating a seven-figure sum.