BITCOIN MILLIONAIRE DONATES MILLIONS FOR MDMA TREATMENTS
BITCOIN MILLIONAIRE DONATES 4MILLION DOLARS
An anonymous Bitcoin millionaire is donating $4 million towards research into MDMA treating post-traumatic stress disorder (PTSD). The Multidisciplinary Association for Psychedelic Studies (MAPS) is undertaking the research, but in order to receive the $4m, MAPS will have to raise the same amount before March 10th.
Clinical trials will enter Phase III testing, if the money is raised, having been granted breakthrough status by the Food and Drug Administration (FDA) in August last year.
Reports the benefactor is giving away a total of $84m worth of digital currency from an initiative called The Pineapple Fund, from Task & Purpose
“PTSD is a severe condition that affects everyone from sexual assault survivors to military veterans,” the secret donor said in a written statement. “MDMA-assisted psychotherapy has shown great promise. We’re offering the matching grant because we think the psychedelic and cryptocurrency communities can work together to finish funding Phase 3 clinical trials.”
The 107 people involved in Phase 2 trials had chronic PTSD that was severe enough to resist treatment from traditional methods. Two months after they completed three sessions of MDMA-assisted psychotherapy, 61 percent of them no longer qualified for a PTSD diagnosis, according to MAPS statistics.
Rick Doblin, the founder and director of MAPS, described the Pineapple Fund as a “dream come true” that highlights cryptocurrency as a potential new source for philanthropy and social change.
“The [cryptocurrency] community is helping to lead the way, not only in decentralized technologies and currencies, but in giving the gift of MDMA-assisted psychotherapy to the world in order to heal trauma and bring greater compassion to psychiatry and medicine,” Doblin said.
A list of charities the Pineapple Fund has supported can be found at pineapplefund.org.