Can Crypto Actually Help Puerto Rico After Hurricane Fiona?

credit: Ecotourism CA

"An official emergency has been declared, which means in the tax program, your physical presence time is suspended," cryptocurrency investor Hayden Bowles says in a video posted to TikTok this week.

"So I am headed out of the island."

The post was met with a fierce backlash from Puerto Rican commenters, many of whom felt it epitomized the crypto community's extractive relationship with the island, Time reports.

Puerto Rico has received a flood of crypto entrepreneurs, investors, and influencers who have sought to take advantage of the island's tax benefits.

While these transplants argue they are bringing jobs and capital to the island, local organizers say they are driving up housing prices, privatizing beaches, erasing culture, and destroying communities.

Dean Huertas, a content creator, and activist responded to Bowles' video with a viral TikTok that called out tax beneficiaries who chose to leave the island.

"People come here to exploit and displace the local population while having the benefit of leaving whenever they please," Huertas tells Time.

Local organizers say promises that crypto leaders made about hurricane preparedness and relief years ago have not been kept; that many newcomers have simply left the island in its time of need; and that new crypto fundraisers have been started without community input. Read the Entire Article

A customized collection of grant news from foundations and the federal government from around the Web.

How's Your Community Doing?
Check Out it's
Community Vital Signs

The Age Of Adoption: Bold Actions For A Net-zero Future

"We have arrived at a new age in climate history, and it is not a moment too soon," writes Matthew Yglesias at Vox. He's referring to what he calls the "Age of Adoption," a time he says has...more

Legacy Gift Supports SDG Research

An "unexpected and substantial legacy gift" has left Canada's University of Victoria $2.5 million to fund two graduate student awards and $500,000 in research grants for post-doctoral...more

Giving Meaningfully: Strengthening Climate Action In India

India needs to get its act together on climate change if it wants to avoid the worst effects of global warming, according to a new report from the World Wildlife Fund. The report warns that...more

Philanthropy for Climate, Social Innovator Awards, and Inequality Reality Check: Davos Round-Up

The World Economic Forum held its annual meeting in Davos, Switzerland, this week, and Oxfam released a report on the state of the world's richest people. Here's what you need to know: The...more

Aspiration Becomes Foundational Investor in Compassionate Carbon to Further Innovation ...

One of the biggest carbon traders in the world is teaming up with one of the biggest tree-huggers to create what the New York Times calls "one of the biggest carbon markets in history." The...more

Resilient Coastal Communities and Climate Adaptation: Lessons from New York for New Zealand

Aya Morris spent six months in New York City as a Fulbright New Zealand science and innovation graduate student, but she's now back home in New Zealand and ready to share some of her...more

Initiative To Help Unlock $3 Trillion For Climate, Nature
Foundation: Moore Foundation, Rockefeller Foundation, United Nations Foundation, Open Society Foundations

"We are at a tipping point in our efforts to put the planet back on track to meet our climate ambitions," Klaus Schwab, executive chairman of the World Economic Forum, says. "To reach the speed...more

At Wef, New Initiative to Help Unlock $3Trn Needed Yearly for Climate Change Launched
Foundation: Moore Foundation, Open Society Foundations

"To reach the speed and scale required to heal the Earth's systems, we need to unlock not only private capital and government funds, but also the philanthropy sector as a truly catalytic force to...more

Emissions Went Up, But There's Some Good News

Greenhouse gas emissions rose slightly in the US in 2022, going up by 1.3% from the year prior, according to a report from Rhodium Group. While the data is only preliminary, this uptick in...more

Investing in Climate Action: What Canada Can Learn from the US

Jeff Bezos is putting his money where his mouth is, with a $10 billion donation to help fight climate change. The Amazon founder's Bezos Earth Fund will provide grants of up to $1 million per...more