Crypto donations to charity reach $125m

A report by The Giving Block highlights the generosity of the crypto industry despite tough 12 months.

Generous crypto users have raised more than $125m on crypto and stock giving platform The Giving Block, according to its annual report.

The report found more than 1,000 non-profit organisations joined the fundraising platform for the second straight year in 2022.

The report also found the average crypto donation worked out at around $26,000 with USD coin being the leading crypto donation option at 44% of total volume.

Cryptocurrencies being used for charitable donations is becoming more common. Binance pledged a minimum of $10m to the Ukraine relief fund after the country was invaded by Russia.

Earlier this year the crypto community rallied round to provide humanitarian aid for those affected by the devastating earthquakes which hit Turkey and Syria donating millions of dollars’ worth of crypto.

Turkish rock singer Haluk Levent’s charity, Ahbap, raised around $2m in crypto donations on the Avalanche, BSC, and Ethereum blockchains.

Avalanche Foundation donated $1m in AVAX tokens to Ahbap, while Tron founder Justin Sun announced he would also be donating $1m in TRX from the Huobi Global exchange to local crypto exchange Paribu.

Turkish artist Refik Anadol has also launched a crowdfund with an ETH address with money raised being donated to the AFAD and Ahbap charities and Binance users who live in the most affected areas were airdropped BNB tokens worth $100.

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Written by David Kent

David has more than a decade of sports betting and sports writing experience working with some of the biggest names in the industry. He focuses on articles covering these subjects including how crypto is transforming sportsbooks.

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