Crypto Donations

The largest cryptocurrency exchange worldwide, Binance, has donated $10 million to Ukraine in the wake of the recent Russian invasion. This contribution to the war relief in Ukraine is just one of the many initiatives coming from the crypto industry. Moreover, donations continue to pour into the country’s crypto wallets as the conflict escalates. Binance Alleviates Ukraine’s War Costs Almost all the financial markets in the world have taken a dip as soon as Russia invaded Ukraine last week. The…

The American Cancer Society, a nationwide voluntary health organization dedicated to eliminating cancer, announced today that it had launched a new research fund that accepts cryptocurrency donations.  The foundation, which partnered with crypto donation firm The Giving Block for the initiative named the Cancer Crypto Fund, will enable people to make donations in multiple cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Basic Attention Token (BAT), Chainlink (LINK), Zcash (ZEC), and Gemini USD (GUSD).  According to the…

Donating Bitcoin or any other cryptocurrency to charity is a noble endeavor and a win-win situation for both parties. On the one hand, those in need get potentially critical support, and you, the donor, benefit from a tax deduction on capital gains. However, if you feel crypto generous, you should understand how Bitcoin donations work. If you fail to do your due diligence, you might lose the full tax advantage you receive from cryptocurrency donations. Today, we take a close…

COVID-19 pandemic has brought economic difficulties to the world and the poorest individuals are most hit. This is why organizations, firms and individuals are reaching out to those who need help. Companies offering services related to cryptocurrency and some individuals in the cryptocurrency space have been trying their best to help those in need. For example, cryptocurrency companies like Binance, BitMEX and the Stellar Foundation have launched such initiatives. Cryptocurrency exchange based in Mexico, Bitso, has collaborated with the crowdfunding platform Donadora towards the launch of…

Recently, the Huobi Group announced its plan to distribute aid in support of Indonesia as it fights against the Covid-19 pandemic. Reports say that Huobi partnered with the Indonesia-China Association of Economic, Social, and Cultural Cooperation (ICAESCC) to offer aid to Indonesia during the pandemic. Additionally, they will be making monetary contributions, donate vital medical supplies, and also use blockchain to aid Indonesia in healthcare delivery. Huobi Charity will contribute about $50 000 worth of Huobi tokens (HT) to ICAESCC…

Crypto Against Covid is a campaign launched by Binance Charity Foundation, aiming to raise $5 million in crypto to battle the Covid-19 pandemic. The campaign also seeks to buy medical supplies for the countries heavily hit by the pandemic. Binance Charity Foundation allocated $1 million in BUSD tokens and will also help set up a wallet to put all public donations for the project. Binance exchange will convert the donated BUSD to fiat, and the funds will purchase medical supplies…

About six months ago, UNICEF launched a cryptocurrency fund in partnership with the Ethereum blockchain platform that would enable it to receive, store, and distribute funding in crypto. UNICEF stated that they wanted to explore the opportunities offered by cryptocurrencies as the digital currency gateway to shape future generations' lives. Today the fund is up and running, and it accepts donations in bitcoin and ether. This is not the only or the first global charitable organization to have recognized the…

Charles Hoskinson donated $500k cryptocurrency to the University of Wyoming (Blockchain Research and Development Lab in Laramie) in the past week via Cardano’s research arm. After the donation, the joint creator of ETH and Cardano released an ask-me-anything session on YouTube. Hoskinson elaborated how fast the immediate wave of progress for cryptocurrencies is happening in the financial world. He praised Wyoming as a place to keep an eye on, noting the fantastic steps the state is taking towards the development…

Well, cryptocurrencies have been making headlines everywhere, all over the world. People are making fortunes off the new trend, and there doesn’t seem to be a shortage as more cryptocurrencies are coming into the market. But are cryptocurrencies being used for what they mean - “currencies”? To be a currency, an instrument should function as legal tender. Meaning that if I have bitcoin, I must be able to use that bitcoin to pay for my restaurant bill or buy a…