The Giving Block on Pace To Process More Than $100M in Cryptocurrency Donations in 2021
The Giving Block, a crypto donation solution for nonprofit organizations and individual donors, announced it is on pace to process over $100 million in cryptocurrency donations in 2021 and projects $1 billion in cryptocurrency donations to be processed in 2022, with a number of major partnerships set to go live starting in Q4 — ahead of giving season.
The Giving Block is dedicated to unlocking the full philanthropic impact of crypto by empowering nonprofit organizations to securely and compliantly accept cryptocurrency donations, and enabling individuals to easily give crypto to their favorite charities worldwide. The Giving Block supports donations in Bitcoin, Ethereum, and over 40 more popular cryptocurrencies, and actively partners with leading crypto companies, NFT projects, and traditional institutions to bring their charitable initiatives to life.
Crypto Philanthropy Is Taking Off Like a Rocket Ship
While DeFi and NFTs have stolen the spotlight, crypto philanthropy is quietly having a moment in 2021 and The Giving Block has contributed with:
- 1000% increase in individual cryptocurrency donations in 2021: The Giving Block has processed over 10,000 donations to-date from individuals, crypto projects, and other organizations.
- Over 90% of nonprofit organizations that accept cryptocurrency donations use The Giving Block: Crypto giving at 500-plus charities, foundations, universities, faith-based, and institutional organizations is now powered by The Giving Block.
- Nonprofit organizations using The Giving Block have raised an average of $50k+ in cryptocurrency donations in 2021: More nonprofit organizations than ever have added cryptocurrency donations to diversify their fundraising options and are seeing strong growth this year.
The Giving Block's Co-Founder Pat Duffy commented, "When we started The Giving Block in 2018, donating crypto was new and there was limited infrastructure to support it. Today, 'crypto traders' are the fastest growing donor demographic and the number of leading nonprofit organizations that accept cryptocurrency donations has skyrocketed. We see a future where cryptocurrency donations are a staple of every nonprofit organization's fundraising strategy."
Investing in Talent, Growth and Culture
In 2021, The Giving Block team has grown from six to 30 employees, including the recent hirings of industry veterans Ben Pousty (Fidelity, Circle, Paxos, Bitstamp) as head of growth and Duke Kim (Bloomberg, Lukka, Celsius) as head of crypto partnerships. It is continuing to expand its team further, with aims to exceed 40 employees by the end of the year.
"We're excited to grow our team to help meet the needs of modern-day fundraisers. Nonprofits are accepting crypto donations at a rapid pace in order to fill budget shortfalls from COVID and diversify their donor bases," said Alex Wilson, The Giving Block's co-founder. "As we expand, we will also continue to educate the cryptocurrency community about how donating crypto is one of the most efficient ways to reduce their taxable gains while also supporting their favorite causes."
With enthusiasm and support for crypto philanthropy growing each month, The Giving Block anticipates a standout end of year performance by nonprofits accepting crypto donations, and is optimistic in its 2022 outlook.
About The Giving Block
The Giving Block makes Bitcoin and other cryptocurrency fundraising easy for nonprofits. Empowering mission-driven organizations, charities, universities, and faith-based organizations of all sizes to leverage crypto technology to achieve their mission. Discover why cryptocurrency is the fastest growing donation method for Millennial and Gen-Z donors, at thegivingblock.com.
Source: The Giving Block
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of the staff of NonProfit PRO.