The Downside of Crypto Donations

The Downside of Crypto Donations

Nonprofits and their supporters are turning to crypto to avoid taxmen, middlemen and restrictive lawmakers. Unless they do their homework, nonprofits face restrictions of a different kind.


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Portnoy’s small business relief fund now accepting Bitcoin, crypto donations

Barstool Media’s charity drive helping small businesses has enabled cryptocurrency donations. Barstool Media’s Dave Portnoy is accepting Bitcoin (BTC) and cryptocurrency donations for his small-business relief fund. Less than 24 hours after integration, the crypto community has responded with incredible generosity. The Barstool Fund launched last week to raise money for small businesses impacted by the Covid-19 pandemic. At the time of writing, the Fund had raised nearly $5.3 million to help 14 businesses. More than 53,000 donors have contributed. For tax reasons, the campaign is scheduled....

UK Charity Comic Relief Looking into Bitcoin Donations

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Charitycoin Is The First "Proof Of Donation" Crypto-Currency

Giving to charities has been one of the highlighted use cases of crypto-currency. The Dogecoin community is known for its philanthropic campaigns; some of the world’s largest charities have started accepting Bitcoin donations as well. Now, there is Charitycoin, a crypto-currency designed to incentivize Bitcoin donations. Charitycoin.co.uk has compiled a list of over 10,000 charities, including Amnesty International UK and The Salvation Army. Charitycoin will match each English pound worth of Bitcoin donated to one of the 10,000 charities with an equal donation through Just Giving, a social....

Microsoft Rival LibreOffice Accepts Bitcoin Donations

The Document Foundation, the company that develops a free and openly-distributed productivity suite, LibreOffice, is now accepting bitcoin donations to help fund its operations. It seems that the free and openly-distributed currency has garnered The Document Foundation increased visibility, as well as financial resources. Italo Vignoli, one of the company's founders, reported a surge in bitcoin donations once it was announced that the non-profit organisation would accept the virtual currency. He said that the site's total donations "registered a spike immediately after the announcement,....

Crypto-Currency Only Artist Organizes Charity Auction For Ailing Dorian Nakamoto

A charity auction for Dorian Nakamoto features art pieces by well-known Bitcoin-only artist Crypto Graffiti, whose work explores cryptocurrencies and the big banks he believes Bitcoin undermines. The pseudonymous artist is the first to use a public-facing bitcoin wallet for donations for street art. His work can be seen in The Wall Street Journal and other publications. After Newsweek claimed it had found Bitcoin creator Satoshi Nakamoto, a media whirlwind circled Dorian Nakamoto, who until this day denies being Bitcoin's founder. Nakamoto claimed his world was turned upside down and....