Fidelity Charitable Received Over $ 270 Million In Crypto Donations In 2021

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The largest donor in the United States – Fidelity Charitable – is said to have broken all of its previous records in terms of cryptocurrency donations received by the organization. Since the start of 2021, he has accepted nearly $ 274 million in digital assets.

Crypto donations have broken records

The news was reported by the UK business newspaper City AM. Given the pace of donations, they may even exceed the $ 300 million mark by the end of the current year.

It should be noted that Fidelity Charitable’s previous record for such contributions was set in 2017 when numerous individuals and entities donated $ 69 million in digital assets to the organization. This means that the first eleven months of 2021 were four times more successful than the entire record year.

Besides the Fidelity Charitable, other entities have also acquired considerable amounts of cryptocurrency donations throughout 2021. The cover described the case of the cryptocurrency platform – Engiven. Earlier this year, he accepted a one-time donation of $ 10 million in bitcoin, which he then offered to an undisclosed church group.

However, Rick Cohen – director of communications and operations at the National Council of Nonprofits – said the cryptocurrency industry is too volatile for small charities to start accepting such donations:

“For a lot of organizations it’s a bit scary because it’s not the dollar contribution they’re used to. It’s not something free and easy, and they have to figure out if there’s even a demand from their current donors to be able to do it.

Other examples of crypto donations

As CryptoPotato reported last month, the Nicklaus Children’s Hospital Foundation has allowed people to donate digital assets. The non-profit charity focused on improving healthcare for children has started accepting some of the biggest cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, and Litecoin.

Among the most popular examples of such contributions is Vitalik Buterin’s decision to donate $ 1 billion in Shiba Inu tokens to the India Covid Relief Fund. Last May, the Ethereum co-founder described the serious problem the coronavirus pandemic has created for the whole world and added: “It is also important to think about the longer term future”.

However, Sandeep Nailwal – creator of the fund – revealed that cashing out these tokens was not easy as transactions had to comply with India’s controversial government policies and liquidity concerns. The proper distribution of funds has also been tricky as the COVID-19 pandemic has spread across the country, Nailwal said.

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