In its annual report, the company announced that charitable donations to The Giving Block, a cryptocurrency charity platform, grew by 1,558 percent in 2021.

News Flash

  • Giving Block’s cryptocurrency donations have increased every quarter in 2021, totaling over $69 million in donations, with an average of $10,455 worth of cryptocurrency donated each time.
  • As cryptocurrencies become more widely adopted, platforms like The Giving Block offer nonprofits access to philanthropically inclined blockchain investors who look for opportunities to share profits and offset capital gains taxes for legitimate reasons.
  • The emergence of NFT philanthropy is another notable trend in charitable cryptocurrency giving, with over $12.3 million donated by verified NFT projects, artists and platforms.
  • Giving Block also launched its cryptocurrency giving pledge program last year, with over 100 charitable cryptocurrency holders donating at least 1% of their cryptocurrency proceeds to charity each year.
  • While the number of nonprofits accepting cryptocurrency donations on The Giving Block has grown 900 percent, by 2021, organizations such as environmental advocacy group Greenpeace have also stopped accepting bitcoin, citing environmental concerns associated with mining the digital currency.
  • Ethereum is the most donated cryptocurrency in 2021, followed by Bitcoin.