Saudi Press

Saudi Arabia and the world
Wednesday, Oct 08, 2025

Crypto donations hit records: Season of Generosity

Crypto donations hit records: Season of Generosity

The top cryptocurrency donated on Crypto Giving Tuesday 2021 was ethereum

Donating cryptocurrencies to charitable organizations is on the rise in this holiday season of generosity, according to numbers from crypto donation platform The Giving Block.

The platform, founded in 2018, fields donations from crypto investors to their choice of more than 1,000 nonprofits, such as Operation Smile, Catholic Charities U.S.A. and People for the Ethical Treatment Animals.

Catholic Charities distribute warm about 300 pre-Thanksgiving meals to people in need at the PEPCO Edison Gallery on Nov. 23, 2021 in Washington, D.C.


The Giving Block's biggest fundraising event of the year, Crypto Giving Tuesday held on Nov. 30, absolutely shattered last year's event by raising $2.4 million in the 24-hour period — that's up 538% from the one-day event last year.

The Number One crypto donated via the site was ethereum at more than $1.2 million, followed by bitcoin at over $885,000. Donors gave roughly $294,000-worth of USD Coin, nearly $9,000 in uniswap and another $5,000 in tezos.

Ethereum


Like other charitable donations, giving via digital assets comes with its own tax benefits. The Giving Block asks donors, "Why give your crypto to the IRS when you can give it to a charity instead?"

"For nonprofits, crypto users are one of the hottest donor demographics," co-founder Pat Duffy told FOX Business. "For crypto users, donating crypto to nonprofits is one of the hottest ways to reduce tax liability. But they didn't have a moment dedicated for them to meet one another. That's why we started Crypto Giving Tuesday."

The group has set a goal of processing $100 million in donations to non-profits through its platform by Dec. 31. If reached, The Giving Block says, it "will have helped put $30 million in the hands of charities that would have otherwise gone to the IRS."

This April 13, 2014, file photo shows the Internal Revenue Service (IRS) headquarters building in Washington.


The concept is appealing to more and more investors, as the digital market is up roughly 1,300% from just over the past two years — and Uncle Sam will come for his cut. Crypto is considered property by the IRS, and can be subject to capital gains or even regular income taxes.

Donors can give crypto to a non-profit rather than the government through The Giving Block, share the tax receipt with their accountant and get it appraised. Then, donors are able to secure their tax write-off and capital gains exemption.

As for reaching the $100 million mark in donations this year, Duffy says it's going to be tight, but there are still a few days left of the campaign, which ends at midnight on Friday.

"So much of it depends on the donations that come in this week," he noted. "Let's hope the whales come out in full force this week!"

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Wave of Complaints Against Apple Over iPhone 17 Pro’s Scratch Sensitivity
Syria Holds First Elections Since Fall of Assad
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
New Eye Drops Show Promise in Replacing Reading Glasses for Presbyopia
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
Top AI Researchers Are Heading Back to China as U.S. Struggles to Keep Pace
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
×