Written on .
PRESS RELEASE: Pineapple Fund Provides $Four Million Matching Grant to MAPS
Cryptocurrency philanthropist hopes to encourage others to full funding for Piece three scientific trials of MDMA-assisted psychotherapy for PTSD
Brad Burge, Director of Strategic Communications, MAPS
Santa Cruz, Calif.—As of late, the Pineapple Fund, based by an nameless cryptocurrency philanthropist, announced that it’s going to compare, greenback-for-greenback, the next $Four million in contributions to the non-earnings Multidisciplinary Affiliation for Psychedelic Compare (MAPS). The explanation of the match, which expires on March 10, 2018, is to encourage others to full funding for MAPS’ upcoming Piece three scientific trials of MDMA-assisted psychotherapy for the treatment of posttraumatic stress dysfunction (PTSD).
The Pineapple Fund will match all new donations to MAPS for Piece three trials in US bucks or cryptocurrency, up to $Four million in Bitcoin (BTC). If this funding danger is met in gifts, grants, and multi-twelve months pledges, MAPS will hold raised ample funds to full its Piece three trials.
The Pineapple Fund’s motivational match comes staunch one month after their December 14, 2017, reward of fifty 9.89 BTC to MAPS, at the beginning valued at $1 million, allotment of its thought to give away over $86 million in BTC to charities and causes within the route of the sector.
“PTSD is a severe condition that has effects on all people from sexual assault survivors to navy veterans,” wrote “Pine,” the Pineapple Fund’s founder. “Existing remedies hold so worthy room for enchancment, and MDMA-assisted psychotherapy has shown colossal promise. We’re offering the matching grant attributable to we judge the psychedelic and cryptocurrency communities can work collectively to enact funding Piece three scientific trials.”
The cryptocurrency community’s generosity has helped catapult MAPS’ fundraising efforts for Piece three scientific trials. On December 18, 2017, loads of days after announcing the Pineapple Fund’s first reward, MAPS bought a second mammoth donation of fifty one.fifty four Bitcoins from yet any other nameless donor. Then, on December 20, MAPS bought 88,000 Lunyr (LUN) tokens worth over $769,000 from yet yet any other nameless donor.
MAPS estimates that Piece three scientific trials will cost $26 million. With $17.three million already raised or pledged, MAPS restful desires $eight.7 million to assemble MDMA-assisted psychotherapy legally readily accessible to thousands and thousands of people combating PTSD. As a non-earnings with no authorities funding for psychedelic study, MAPS depends on contributions from participants, corporations, and foundations.
Piece three scientific trials of MDMA-assisted psychotherapy for PTSD will delivery in Spring 2018, and would possibly perhaps per chance well most certainly neutral enroll 200-300 contributors within the route of sixteen web sites within the U.S., Canada, and Israel.
In August 2017, the U.S. Meals and Drug Administration (FDA) granted Breakthrough Therapy Designation to MDMA-assisted psychotherapy, acknowledging that it “would possibly perhaps per chance well neutral explain expansive enchancment over existing therapies.” If MAPS receives the specified funding and the trials explain sure outcomes, FDA approval is expected by 2021.
“The Pineapple Fund’s beef up is a dream reach staunch,” says Rick Doblin, Ph.D., founder and govt director of MAPS. “With no funding readily accessible for these trials from authorities companies or predominant scientific study foundations, legally readily accessible MDMA-assisted psychotherapy for PTSD will certainly be a reward to the sector from the psychedelic science and cryptocurrency communities.”
MAPS turned into an early supporter of cryptocurrency donations, first accepting Bitcoin donations in December 2013. MAPS at explain accepts cryptocurrency donations in Bitcoin, Bitcoin Money, Litecoin, Ethereum, and LUN.
Cryptocurrencies bid encryption and digital technologies called?blockchains?to maintain an nameless, allotted, perceive-to-perceive monetary?system that is resistant to censorship and fraud, limiting the need for zero.33 parties and associated fees.
Founded in 1986, MAPS is a 501(c)(three) non-earnings study and academic group that develops scientific, valid, and cultural contexts for of us to earnings from the cautious makes bid of of psychedelics and marijuana. Since its founding, MAPS has raised over $forty seven million for psychedelic remedy and scientific marijuana study and education. For added recordsdata, search suggestion from maps.org.
MAPS-backed scientific trials are completed by the MAPS Public Assist Corporation (MPBC), a utterly owned subsidiary of MAPS formed in 2015 for the special reason of balancing social advantages with earnings from valid sales of MDMA, varied psychedelics, and marijuana. For added recordsdata, search suggestion from mapsbcorp.com.