Fundraising platform Pledge has launched PledgeCrypto to allow nonprofits to accept crypto donations in more than 130 cryptocurrencies — including Bitcoin (BTC), Ether (ETH) and Tether (USDT) — and then turn them into fiat money.
Famous music artist Ariana Grande, a prominent advocate for transgender rights and the founder of her own charity — Protect and Defend Trans Youth Fund — is working with Pledge to raise money for LGBTQ organizations that advocate for and provide direct services to transgender youth. She has offered to match up to $1.5 million in donations.
The announcement says PledgeCrypto is a free, fully integrated fiat and cryptocurrency donation platform where donations are delivered to verified nonprofit organizations. It does not require technical knowledge, crypto wallet expertise or Know Your Customer documentation.
Pledge CEO James Citron said that about 300 million people worldwide presently own cryptocurrency and intend to fund causes they care about. Apart from Ariana Grande's campaign, additional charity partners for Pledge Crypto include The Boys and Girls Club of Metro Los Angeles, Big Brothers and Big Sisters LA, Streetcode Academy, Worthy of Love, Safe Place for Youth, CoachArt, Goodie Nation and Taraji P. Henson’s Boris Lawrence Henson Foundation.
Pledge has also introduced a mechanism that allows each crypto transaction to contribute to verified carbon offset initiatives via the United Nations Climate Neutral Now Initiative to offset the environmental impact of cryptocurrency mining and transactions.
2021 will be primarily remembered as the year of new all-time highs for digital assets, but it was also the most successful year yet for crypto philanthropy. As reported by Cointelegraph in early February, crypto contributions totaled $69.6 million in 2021 as opposed to $4.2 million in 2020. In the same period, crypto donation volume rose by 1,558%, or nearly 16x.
In March, government officials in Ukraine teamed up with cryptocurrency exchanges FTX and Kuna and staking provider Everstake to create a donation platform for individuals wanting to donate Bitcoin and other cryptocurrencies to aid in the war against Russia.