Crypto philanthropy has raised over $125 million (just over £100mn) so far for charities on crypto and stock giving platform The Giving Block, according to its 2023 Annual Report.
According to The Giving Block, despite a rocky year for crypto prices, it saw more than 1,000 nonprofit organisations join the fundraising platform for the second straight year in 2022.
The Giving Block’s report merges years of giving data with more than a decade of Bitcoin price activity, and forecasts more than $10bn in crypto donations over the next decade on this platform. The report also reveals the giving trends to expect from crypto philanthropy in the years ahead.
More findings from The Giving Block’s 2023 Annual Report include:
A record 1,052 nonprofits began accepting crypto through The Giving Block in 2022
$26,000 (just over £21,100) was the average total crypto donations received per nonprofit on the platform
USD Coin (USDC) emerges as the leading crypto donation option for the first time at 44% of total volume
Ethereum is the second most donated cryptocurrency, as NFT fundraisers drive ETH to 24% of total volume
Bitcoin (BTC) falls to the third most donated cryptocurrency at 17%, behind ETH for the second year The largest crypto donation of the year was $9.4mn and was donated by Ethereum co-founder Vitalik Buterin through his philanthropic fund Balvi
UK charities that feature on The Giving Block include Compassion UK, Animal Free Research UK, and Sands.