Disaster fund for victim of wildfires in California 2025
The Giving fund claims that since its launch, its platform has raised almost $200 million in crypto
currency donations.
The Giving fund a business that collaborates with nonprofits to enable bitcoin payments, organized an emergency response fundraising for the people affected by the wildfires in California, in southern California.
The Giving funds chief operating officer, Ben Pousty, stated that the charity’s objective was to raise $2 million. Jared Isaacman, the CEO of Shift4, The Giving fund parent business, is contributing $1 million to the cause.
Additionally, the chief operating officer informed Cointelegraph that there are special advantages to making philanthropic contributions in cryptocurrency. Pousty stated in a written statement:
“Crypto is a creative, effective way to give back since it might help donors avoid capital gains taxes, possibly allowing them to deduct the full fair market value on their taxes while contributing more to causes they care about.”
Since cryptocurrency may help donors avoid capital gains taxes, they may be able to deduct the full fair market value from their taxes and donate more to organizations that are important to them. This makes cryptocurrency an innovative and efficient way to give back.
The Giving Block’s history of aiding during times of crisis
The Giving fund established a disaster relief fund in the wake of the Maui wildfire in California that destroyed portions of the Hawaiian island in August 2023 in order to assist with the reconstruction of the affected areas and the assistance of victims
The business committed to contributing $500,000 of its capital to match the donations made during the fire relief effort.
The Giving fund also raised $1 million in 2024 to aid in the aftermath of storms Helene and Milton, which caused extensive flooding and destruction to parts of the US East Coast.
The business has partnered with hundreds of nonprofits throughout the globe to channel cryptocurrency donations to worthy causes, such as No Kid Hungry, PETA, and the American Cancer Society.
According to a 2023 report from The Giving fund, the majority of cryptocurrency donations made on its platform in 2022 were in the USDC ticker down $1.00 stablecoin, and the company projected that cryptocurrency donations will surpass $10 billion in ten years.
