Crypto Contributions Exceed $2B in 2024 as Top U.S. Charities Embrace Digital Donations

Leading charities in the United States are increasingly
embracing crypto
contributions amid the growing adoption of digital assets.,According to a 
recent report from BanklessTimes
, two-thirds of the top U.S. charities have started accepting crypto contributions in 2024, resulting in over $2 billion in donations.,Per the report, 56% of the leading American non-profit organizations now enable crypto wallets and accept cryptocurrency donations. ,


Notably, 67.8% of charities that accept crypto donations utilize The Giving Block as their platform for crypto funding.,Since its inception, The Giving Block has facilitated over $2 billion in crypto contributions, highlighting the increasing comfort of individuals in donating cryptocurrencies. ,Prominent organizations such as Save the Children, World Vision International, Water Aid U.S., and the American Red Cross have joined the ranks of charities accepting crypto donations. ,By tapping into the crypto space, these entities are 
not only attracting a new base of donors but also
 expanding their fundraising capabilities by diversifying their revenue sources.,“As the value of various digital assets skyrocketed in recent years, a new wave of crypto-affluent individuals emerged, eager to leverage their newfound wealth for charitable purposes,” Jonathan Merry, CEO of BanklessTimes, commented.,Accepting and donating cryptocurrencies presents several advantages and opportunities for 
both
 donors and charities. ,For charities, crypto transactions offer lower fees and quicker processing times 
compared to
 traditional financial systems. ,This convenience extends to donors, who can contribute to causes from the comfort of their own homes.,However, there are challenges associated with crypto donations. ,Navigating regulatory compliance, including know-your-client and anti-money laundering regulations, can be complex, especially across different jurisdictions.,Charities must also remain vigilant against cyber threats, as exposure to cybercriminals could lead to significant financial losses.,


Aside from its growing use in philanthropy, cryptocurrencies are also used to influence politics. ,A well-funded political action committee (PAC) backed by prominent figures in the cryptocurrency industry has 
set its sights
 on key Senate 
races,
 
with the goal of potentially shifting
 the balance of power in Congress. ,The PAC, called Fairshake, recently spent over $10 million successfully 
opposing a Democratic U.S. Senate candidate in California
.,The negative publicity led to Porter 
ending up
 in third place behind Rep. Adam B. Schiff and Republican Steve Garvey in the primary results.,Leveraging substantial funding from the crypto industry, Fairshake aims to ensure that candidates elected in November will advocate for 
the establishment and adoption of
 much-needed regulations for the cryptocurrency industry.,As reported, approximately 
73% of US voters believe
 
that US
 presidential candidates should have an informed perspective on innovative technologies like artificial intelligence (AI) and cryptocurrency. ,Likewise, a recent report from Coinbase claimed that 
California voters who own cryptocurrencies
 
are expected
 to 
have a significant impact on
 the 2024 elections., ,US Charities Tap The Giving Block for Crypto Funding

https://coinniu.com/crypto-contributions-exceed-2b-in-2024-as-top-u-s-charities-embrace-digital-donations/

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