New Cryptocurrency Token ELONGATE Pledges a Total of US$1,000,000 to Various Charities

May 9, 2021
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ELONGATE, a fast-rising cryptocurrency token that launched 3 weeks ago, has pledged a total of more than US$1,000,000 in monetary donations to various charities. Built on the Binance Smart Chain, Elongate is a crypto token that was born from an Elon Musk tweet and has since been determined to wield the power and capital of memes and internet culture to change the face of charitable giving.

In a series of weekly live streams called charity parties with its tight-knit community of investors, Elongate has donated to charitable organizations including Children International, Action Against Hunger, and The Ocean Cleanup. On April 4, Children International accepted a first donation of $75,000, an amount which was increased to $325,000 in Elongate’s latest charity party last April 18. Action Against Hunger and The Ocean Cleanup have both received a total of $250,000 from the Elongate community. A further pledge has been reserved for Big Green, who will join Elongate on a live stream event in line with this year’s Earth Day celebrations. Big Green is a non-profit organization founded by Kimbal Musk and Hugo Matheson, with a mission to create healthy places where children can learn and grow.

Elongate is a cryptocurrency token that was born out of a tweet dated March 25 by billionaire technology icon and philanthropist Elon Musk. From there, a blockchain developer created Elongate, a community-driven token that integrates the general nature of crypto trading with charitable initiatives. A few days into its inception, community members self-organized to maintain, administer, and scale the project. Elongate is currently led by its Chief Executive Officer Lorenzo Andree, a Business Informatician based in Switzerland. The team is constantly expanding and is committed to further develop its operations. At present, Elongate has no affiliations with Elon Musk.

In light of Elongate’s numerous overlapping and exciting initiatives, Gene Rhode Fuensalida Pantig, Chief Marketing Officer at Elongate explains: “Elongate has a concrete goal of serving as a ‘gate’ for digital initiatives to scale into the real world. The cryptocurrency space is an untapped power wherein its supporters – coming from all walks of life – are willing to help change the world. Charity is integral to the Elongate ecosystem and we aim to future proof this by expanding our offerings. Aside from charitable initiatives, we are also in the process of rolling out an NFT launchpad and other crypto innovations. Elongate is in a position to diversify its identity not only in the digital and crypto space but also in the real world.”

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