bitcoin donation

Cape Cod’s Largest Hospital Gets Bitcoin Donations Worth $800K

23/02/2021 by Idelto Editor

One of Cape Cod’s largest hospitals received two bitcoin donations this year totaling $800,000 in value. The Massachusetts-based not-for-profit medical centre (NPO), Cape Cod Healthcare, explained that an anonymous donor donated $400k last Friday and the NPO received a $400k bitcoin donation last month as well.

Cape Cod Healthcare Gets $800K in Bitcoin Donations

The hospital Cape Cod Healthcare (CCHC) is considered one of the leading providers of healthcare services in Cape Cod, Massachusetts. This week, the NPO told the Boston Globe staff member Anissa Gardizy that it received two bitcoin (BTC) donations worth $800,000.

CCHC’s senior vice president and chief development officer, Christopher Lawson, said the donor wished to remain anonymous and sent an email last month asking the hospital to accept BTC donations. Lawson said the donor had helped CCHC before the two crypto donations, and had just recently asked if the hospital would accept his BTC gift.

Lawson told Gardizy that before accepting the donation, the administration had to see if the hospital could deal with transactions sent in cryptocurrency.

“Before we responded, Lawson said. “We had to make sure there were not any issues. It required a good amount of research,” he added. “My office probably spent a week or two doing our best to learn who else was doing this.”

After getting approval from CCHC’s finance department and the hospital’s CEO Mike Lauf, the firm launched a donation address. Lawson said that because the donor gave the $800k worth of bitcoins to the hospital, he will be free from paying taxes on the funds.

“It makes it an asset that is attractive to donate,” Lawson stressed. “You get maximum impact on the value, and any gains you get, much like stock, you don’t pay the tax,” the hospital administrator added. Lawson did detail, however, that the CCHC finance team immediately converts the donations to dollars.

Mainstream Acceptance

The first $400k donation was sent on January 28, 2021, and the following month on February 19, the donor sent another $400k worth of bitcoins. CCHC’s senior vice president said that other NPOs could also set up bitcoin donation support in order to accept the crypto asset.

“I’m really excited. We are coming out of a period during COVID when donations were hard to come by for a lot of folks,” Lawson emphasized. “This lets people know that we have the capability of accepting these cryptocurrencies in donation, and we have the infrastructure in place.” Back in May, Cape Cod Healthcare furloughed more than 600 employees.

“It is not widespread but it is becoming more mainstream,” Lawson concluded. “People are accumulating these assets, and they are looking at opportunities to donate them,” he added.

What do you think about the two bitcoin donations totaling $800k sent to Cape Cod Healthcare? Let us know what you think about this subject in the comments section below.

American Cancer Society Creates Its First Crypto Only Donation Fund

28/01/2021 by Idelto Editor

American Cancer Society Creates Its First Crypto Donation Fund

The American Cancer Society has set up a fund for crypto donations so the nonprofit can raise at least $1 million by early 2021. Together with The Giving Block, the U.S.-based voluntary health organization expects to collect funds via several cryptocurrencies.

Donations to Fund Cancer-Related Research Plummeted 50% in 2020

According to the announcement, the cancer crypto fund seeks to provide funding to ongoing research initiatives. The move happens within the context of a strong decrease in donations over 2020 amid the COVID-19 pandemic.

The American Cancer Society says the donations’ flow plunged 50% in the last year — the lowest number in this century. They commented on the motivations behind setting up a crypto fund:

The crypto community’s contributions will help re-establish crucial research funding for new discoveries and better treatments to save the lives of family and friends.

Per the official crypto fund website, donations can be made in bitcoin (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC), zcash (ZEC), gemini dollar (GUSD), basic attention token (BAT) and chainlink (LINK).

The nonprofit health organization said that the first donor who contributes $250,000 or more would have the chance to name the fund. On the other side, donors with over $10,000 contributions will appear on the crypto fund’s wall of honor.

Cryptos Playing a ‘Pivotal Role’ in the Fight Against Cancer

Jeff Klass, the interim chief digital officer at the American Cancer Society, commented on the announcement:

We want as many people to join us in our mission as possible. 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.

Moreover, the American Cancer Society recognizes “the emergency of cryptocurrency,” specifically the impact cancer has across the crypto community.

Pat Duffy, a co-founder of The Giving Block, said the following about cryptocurrencies’ relevance in this kind of initiatives:

I believe cryptocurrency will play a pivotal role in curing cancer. (…) 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.

What do you think about this crypto cancer fund? Let us know in the comments section below.

Nigeria Protest Group Asks for Bitcoin Donations After Regulators Block Bank Account

15/10/2020 by Idelto Editor

Nigeria Protest Group Asks for Bitcoin Donations After Regulators Blocks Bank Account

A Nigerian protest group called Feminist Coalition is asking well-wishers to make donations via bitcoin after authorities reportedly blocked the organization’s bank account. Feminist Coalition is one of the many groups spearheading protests against alleged police brutality by a Nigerian police unit, the Special Anti-Robbery Squad (SARS).

Before the blockade of the bank account, Feminist Coalition says it had used donations raised through the account to fund 90 protests across the country. By closing the bank account, authorities are attempting to suffocate a movement whose success has brought the spotlight on crimes committed by security forces.

An announcement on Sunday, October 11, 2020, by the Director-General of the Nigerian police that the SARS would be disbanded, has seemingly failed to appease protesters. One protest supporter, who did not wish to be identified, told news.Bitcoin.com the situation on the ground remains tense. She said reports of brutality and killings by the same unit are continuing.

Feminist coalition’s bitcoin account already has over 1 million in donations already. The government think they’re mad? Welcome to digital madness.

— Elon Mosque (@That_IjebuBadoo) October 13, 2020

Meanwhile, in a post on Twitter, the Feminist Coalition urged Nigerians to donate via bitcoin since two of its donation channels were now blocked. The post said:

For demanding an end to police brutality we are now under attack! Our bank account has been deactivated and so has the Flutterwave donation link. Our members’ lives are also being threatened.

Flutterwave, a Nigeria payments gateway, which kickstarted the initiative to raise funds to pay for medical bills of those injured in the protests, appeared to have caved in to pressure from the government. Flutterwave’s unconfirmed decision to close the Feminist Coalition’s donation link is corroborated by reports that company executives were recently summoned by the Central Bank of Nigeria (CBN).

By asking for bitcoin donations, Feminist Coalition is confident funds for bankrolling the protests will continue to flow as Nigerians are already familiar with cryptocurrencies. Nigeria is already Africa’s largest cryptocurrency market and many in the country use digital assets like bitcoin and Dash to make payments.

The protests, which are fronted by Nigeria’s tech-savvy youth, seek an end to brutality and corruption within the country’s police force. In a statement, the youth say they “also want a psychological evaluation & retraining (by an independent body) of all disbanded SARS officers before they are redeployed.”

Meanwhile, Jack Dorsey tweeted in support of the Feminist Coalition on October 14. In his tweet, Dorsey urges his followers to “donate via bitcoin to help #EndSARS.”

What do you think of this decision by the Feminist Coalition to ask for bitcoin donations? Share your views in the comments section below.

The post Nigeria Protest Group Asks for Bitcoin Donations After Regulators Block Bank Account appeared first on Bitcoin News.

Crypto for Congress: Bitcoin Sent to All Congress Members’ Campaigns

05/10/2020 by Idelto Editor

The Crypto for Congress initiative has launched. All members of Congress will be given bitcoin as campaign contributions to help them learn about cryptocurrency. The initiative is supported by Congressional Blockchain Caucus members, including pro-crypto Representatives Darren Soto and Tom Emmer.

Each Congress Member Receiving Bitcoin Contribution

The “Crypto for Congress” initiative has launched, the Chamber of Digital Commerce announced Monday. “Today, all members of the United States Congress will receive a campaign contribution in bitcoin” as part of this initiative, the announcement details. There are 535 members of Congress: 100 serve in the U.S. Senate and 435 in the House of Representatives.

The Chamber of Digital Commerce Political Action Committee will provide a $50 bitcoin contribution to all 535 members of Congress. The organization also provides online public educational training, a toolkit, and various resources to Congress members across all parties “to help them engage directly in the cryptocurrency ecosystem,” the announcement explains. According to information on the initiative’s website:

Crypto for Congress is an educational initiative aimed at expanding the use and adoption of digital assets among Congressional candidates, elected leaders, and engaged citizens.

“Now is the moment for all members of Congress to learn about and embrace cryptocurrencies and blockchain technology, and the best way to do that is to set up a digital wallet and get started on the blockchain journey,” said Perianne Boring, the organization’s founder and president. “Many other nations like China, Japan, Singapore and Switzerland have rapidly embraced blockchain technology and created robust national plans to be global leaders in this area. The United States is falling behind in technological innovation and this is not a risk we should be willing to take.”

The Crypto for Congress initiative is supported by members of the Congressional Blockchain Caucus, including pro-cryptocurrency Representatives Darren Soto and Tom Emmer. Sponsors of the newly launched initiative include Anchorage, Bitpay, Blockfi, CMT Digital, Circle, Civic, Etoro, Flipside Crypto, Medici Ventures, Messari, and Paxos.

“Crypto for Congress brings an opportunity for our entire Congressional community to join this generational shift in finance and technology,” Rep. Tom Emmer commented. “By embracing the digital asset movement, we have an opportunity to take a significant step forward to ensure America’s leadership position in the future of the global economy.”

What do you think about the Crypto for Congress initiative? Let us know in the comments section below.

The post Crypto for Congress: Bitcoin Sent to All Congress Members’ Campaigns appeared first on Bitcoin News.

Paxful Completes Second School in Rwanda #BuiltWithBitcoin

04/12/2018 by Idelto Editor

Paxful, one of the largest peer-to-peer (P2P) bitcoin marketplaces in the world, is once again demonstrating how the cryptocurrency community can contribute to good causes around the world. The company has announced that the second school it has helped to finance in Rwanda has now been completed.

Also Read: Former Israeli Prime Minister Calls Cryptocurrencies a ‘Ponzi Scheme’

Giving Kids a Crucial Stepping Stone

This project was funded entirely through cryptocurrency donations as a part of Paxful’s #BuiltWithBitcoin initiative, with over $100,000 raised in BTC, BCH, ETH, LTC and DASH to support construction. It is said to be the first primary school in the area that caters to kids between the ages of 6 to 15. The facility contains six classrooms, a cafeteria, bathroom stalls, solar panels and a 35,000-liter water well system. It was completed in partnership with the Zam Zam Water charity and will employ six full-time teachers.

“Having proper education centers is fundamental in moving countries like Rwanda forward, while also increasing their standard of living. Education is the crucial stepping stone in serving people in developing nations improving their quality of life,” said Yusuf A. Nessary, president and founder of Zam Zam Water. “We are beyond thrilled to have partnered with Paxful in order to provide education for (the) next generation and beyond.”

View this post on Instagram

A post shared by Ray (@wolfgang432) on Oct 24, 2018 at 8:54pm PDT

Bitcoin Is More Than a Speculative Tool

Paxful, which recently reported that its monthly bitcoin volume in Africa has reached about $65 million, launched the #BuiltWithBitcoin program last year. It started by donating $50,000 in bitcoin to build its first nursery school in Rwanda, with plans to fund and build 100 schools across Africa. Earlier this year, the company also granted academic scholarships to a couple of female Afghan refugees in the U.S.

“We encourage the cryptocurrency sector to contribute more to humanitarian projects. The #BuiltWithBitcoin initiative is an example of bitcoin being used as more than a speculative tool, but a testament to the usefulness of cryptocurrency,” said Ray Youseff, the CEO and co-founder of Paxful. “To date, we have built two schools — a nursery and a primary school in Rwanda, Africa — and provided scholarships to Afghan refugees, and plan to continue these philanthropic ventures.”

View this post on Instagram

#builtwithbitcoin school number 2 is on the way! A primary school in #rwanda next to the first school a nursery! #bitcoin for the epic win! @gopaxful #cryptocurrency #blockchain @zamzam.water and @yusufnessaryare the heros here!

A post shared by Ray (@wolfgang432) on Sep 18, 2018 at 1:59am PDT

Do you know any other crypto-friendly charities? Tell us about them in the comments section below.

Images courtesy of Shutterstock.

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The post Paxful Completes Second School in Rwanda #BuiltWithBitcoin appeared first on Bitcoin News.