The report reveals the number of nonprofits accepting crypto nearly doubled in 2022 despite market downturn, and forecasts $10B in crypto donations by November 2032
Today, The Giving Block, the crypto and stock giving platform behind crypto philanthropy, released the 2023 Annual Report on Crypto Philanthropy. Despite a rocky year for crypto prices, crypto fundraising's popularity boomed, as over 1,000 nonprofit organizations (NPOs) joined the fundraising platform for the second straight year. The report demystifies the generous crypto donor base that's now given more than $125M to charities via The Giving Block.
The report merges years of giving data with more than a decade of Bitcoin price activity, forecasting more than $10B in crypto donations over the next decade on their platform alone. The report also reveals key findings about what giving trends we can expect from crypto philanthropy in the years ahead.
Notable findings from The 2023 Annual Report on Crypto Philanthropy include:
- A record 1,052 nonprofits began accepting crypto through The Giving Block in 2022
- In 2022, crypto giving passed $125M all-time on The Giving Block
- $26,000 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%
- Bitcoin (BTC) falls to the third most donated cryptocurrency at 17%, behind ETH for the second straight year
- The largest crypto donation of the year was $9.4m and was donated by Ethereum co-founder Vitalik Buterin through his philanthropic fund, Balvi
- Forecasts $10B in crypto donations over the next decade if trends hold
The Giving Block is the asset donation platform leveraged by thousands of charities, religious organizations, healthcare networks, foundations and more. Notable clients include Save the Children, American Cancer Society, and St. Jude Children’s Research Hospital.
The Giving Block’s full 2023 Annual Report is available here. To donate, please visit https://thegivingblock.com/donate/ and browse through more than 2,000 nonprofit organizations and Impact Index Funds supported by The Giving Block.
About The Giving Block
The Giving Block, a Shift4 company, is the platform connecting nonprofits with modern philanthropists. As pioneers of the “Crypto Philanthropy” movement, The Giving Block developed the leading solutions for cryptocurrency donations, taking crypto and NFT donations mainstream. The Giving Block team then leveraged their crypto experience to develop one of the easiest and most efficient ways to donate stocks, encouraging even more modern philanthropists to donate non-cash assets. Today, thousands of nonprofits have joined The Giving Block to fundraise more effectively from modern donors.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005150/en/
Contacts
Mariah Terry
Media@TheGivingBlock.com
