The Giving Block Raises Over $2.4 Mln On Crypto Giving Tuesday

givingblock 120321 lt

Crypto-donations firm The Giving Block has raised more than $2.4 million on the biggest crypto fundraising day of the year dubbed as Crypto Giving Tuesday.

This is the crypto version of Giving Tuesday, which is an internationally recognized day to contribute to charity before kicking off the holiday season. The first Tuesday after Thanksgiving is called Giving Tuesday.

Over the course of the day, donors gave more than $2.4 million in crypto to nonprofits and shattered last year's record with 583 percent year-on-year growth.

The average donation size on Crypto Giving Tuesday was $12,600, which is a 20 percent increase from the average crypto donation in 2021. Last year's average donation size was $10,600. The number of nonprofit organizations participating was 1,017, up 839 percent from 120 for Crypto Giving Tuesday 2020.

The total fundraising of over $2.4 million included, about $1.21 million in Ethereum (ETH), $885,505 in Bitcoin (BTC) and $294,431 in USD Coin (USDC).

Crypto Giving Tuesday kicked off Bag Season, The Giving Block's 31-day year-end fundraising campaign, that is targeting more than $100 million in crypto donations this year.

The Giving Block makes it easy for nonprofits and other charitable organizations to accept cryptocurrency donations and for users to donate in a more tax efficient way and converts all donations to US Dollars within seconds.

These donations help users to lower their income tax bill as donating crypto is not spending crypto. This will allow charities to accept more than 45 types of cryptocurrency, including Bitcoin, Ethereum, and Dogecoin.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT