DonorsChoose.org had over 35,000 open teacher funding requests when the online charity platform received a single donation that covered them all. The $29 million cryptocurrency gift was made by San Francisco cryptocurrency giant, Ripple, and marks the largest donation in both benefactor and recipient's histories. It also signifies a growing trend in the use of digital currency for making charitable contributions.
DonorsChoose founder, Charles Best, emailed Ripple just one month ago, encouraging them to make a donation that covered all projects on the site. Once dependant on crowdsourcing donations, DonorsChoose now lands a multitude of larger endowments. Ripple is relatively new to the philanthropy scene but already stands as the second largest cryptocurrency donor of late.
Donor-advised funds have also been seeing an influx of crypto contributions. Fidelity Charitable, for instance, saw a tenfold increase in 2017. With all the recent volatility, it's unclear whether these donations will become commonplace or a fading trend. LEARN MORE