Many of Silicon Valley’s tech moguls, venture capitalists and financiers are still in the midst of building their empires, and most have decades to go before they have to start worrying about their legacies.

But at a gala Thursday night in San Francisco, America’s newly wealthy showed they can raise some serious money to fight poverty in the Bay Area. The nonprofit Tipping Point Community brought in $13.9 million during the evening.

In one sign of just how new much of the wealth is, the organization accepted Bitcoin, Ripple and Ethereum for the first time this year. A who’s who of the digital currency world had gathered: Chris Larsen, CEO of Ripple; Brian Armstrong, co-founder and chief executive of Coinbase; Dan Morehead, founder and CEO of Pantera Capital Management; Micky Malka of Ribbit Capital and Ted Janus of J Capital.

“It’s great to see in the Bay Area because this is all about making sure that wealth is getting to people who need it most, and this helps lubricate that goal," Larsen said.

Morehead sat one table over. “It’s a productive and worthwhile application from a nonprofit that’s driven by some of the most innovative minds in San Francisco."

“I think a lot more charities will be accepting crypto in the future," Armstrong said.

Crypto Gifts

“Trust me, no one is doing this in New York yet," said auctioneer Lydia Fenet, who made the trip from Christie’s headquarters in New York to lead the donation drive after dinner.

The crypto gifts -- made with a QR code printed in the program -- will be converted to dollars and spent within the next fiscal year, Tipping Point spokeswoman Marisa Giller said. The organization fundraises from scratch annually to support grantees, develop new solutions and scale proven ones. The board pays all expenses. The nonprofit received its first Bitcoin donation (outside the annual benefit’s pledge drive) in 2014.

Led by Daniel Lurie, a former staffer of New York’s Robin Hood Foundation, Tipping Point brings a tech and data-driven approach to education, employment, housing and early childhood that’s earned it a following among the region’s developing philanthropists.

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