As cryptocurrency has gained popularity and mainstream recognition, we’ve seen more and more nonprofit organizations begin to accept crypto donations. Today, one of America’s most prominent nonprofits, the American Cancer Society, has amplified its crypto push with the launch of its Cancer Crypto Fund.
Created in partnership with The Giving Block, which helps organizations tap into crypto philanthropy, the Cancer Crypto Fund aims to raise at least $1 million in cryptocurrency donations very quickly—by “early 2021,” according to a press release. This is the organization’s first crypto-only fund, although the American Cancer Society previously accepted Bitcoin via BitPay.
“We want as many people to join us in our mission as possible,” said Jeff Klaas, Interim Chief Digital Officer of the American Cancer Society, in a release. “To do that, we need to ensure people can give to the fight against cancer when, where, and how they choose. We appreciate The Giving Block’s work to help make this possible.”
The Cancer Crypto Fund accepts several different cryptocurrencies, including , , , , , , Gemini Dollar, and the .
Additionally, the fund is providing incentive for big-dollar donors: the first to donate at least $250,000 can name the fund after themselves or a loved one. Additionally, any donors who send at least $10,000 can have their name listed on a Crypto Cancer Fund Wall of Honor.
All donations to the Cancer Crypto Fund will go directly into the organization’s cancer research, which seeks to discover new breakthroughs and treatment options. According to the ACS website, the organization has poured more than $4.9 billion into cancer research since 1946.
“I believe cryptocurrency will play a pivotal role in curing cancer,” said The Giving Block co-founder Pat Duffy, in a release. “With Bitcoin hitting a new all-time high, the creation of this new fund opens the door for the booming crypto market to save lives.”
According to The Giving Block, which was founded in 2018, cryptocurrency donations total an estimated $300 million annually. More than 120 organizations accept crypto donations via The Giving Block, as listed on its website, including The Tor Project, the National Society of Black Engineers, and United Way Worldwide.