The Giving Block, the crypto and stock giving platform behind crypto philanthropy, released the 2023 Annual Report on Crypto Philanthropy. Despite a rocky year for crypto prices, crypto fundraising’s popularity boomed, as over 1,000 nonprofit organizations (NPOs) joined the fundraising platform for the second straight year. The report demystifies the generous crypto donor base that’s now given more than $125M to charities via The Giving Block.
The report merges years of giving data with more than a decade of Bitcoin price activity, forecasting more than $10B in crypto donations over the next decade on their platform alone. The report also reveals key findings about what giving trends we can expect from crypto philanthropy in the years ahead.
Notable findings from The 2023 Annual Report on Crypto Philanthropy include:
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A record 1,052 nonprofits began accepting crypto through The Giving Block in 2022
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In 2022, crypto giving passed $125M all-time on The Giving Block
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$26,000 was the average total crypto donations received per nonprofit on the platform
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USD Coin (USDC) emerges as the leading crypto donation option for the first time at 44% of total volume
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Ethereum is the second most donated cryptocurrency, as NFT fundraisers drive ETH to 24%
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Bitcoin (BTC) falls to the third most donated cryptocurrency at 17%, behind ETH for the second straight year
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The largest crypto donation of the year was $9.4m and was donated by Ethereum co-founder Vitalik Buterin through his philanthropic fund, Balvi
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Forecasts $10B in crypto donations over the next decade if trends hold
The Giving Block is the asset donation platform leveraged by thousands of charities, religious organizations, healthcare networks, foundations and more. Notable clients include Save the Children, American Cancer Society, and St. Jude Children’s Research Hospital.
source : https://finance.yahoo.com/news/2023-annual-report-crypto-philanthropy-130500859.html#:~:text=The%20report%20demystifies%20the%20generous,decade%20on%20their%20platform%20alone.