CNBC: Crypto donations to charities surge in the U.S.

CNBC reported that cryptocurrency investors have significantly increased their donations of cryptocurrencies to charities for tax avoidance reasons. Fidelity Charitable received $38 million worth of cryptocurrency donations in 2022 and $49 million in 2023. However this year, the amount has increased significantly to $688 million. DAFgiving360 did not disclose specific figures, but the proportion of cryptocurrency donations it has received this year accounts for 63% of contributions in non-cash assets. According to The Giving Block, a virtual asset donation platform, 56% of the top 100 U.S. charities received cryptocurrency donations as of January this year. CNBC reported that this phenomenon is presumed to be due to the implementation of tax avoidance measures achieved through cryptocurrency donations.