The Pledge also introduced a mechanism that allows every cryptocurrency transaction to contribute to proven climate change initiatives under the United Nations Climate Neutral Now initiative.
Fundraising platform Pledge launched PledgeCrypto to allow nonprofits to accept crypto donations in over 130 cryptocurrencies, including bitcoin (BTC), ether (ETH), and tether (USDT), and then convert them to fiat. convert money.
Acclaimed music singer Ariana Grande, renowned transgender rights advocate and founder of her own charity Protect and Defend Trans Youth Fund, is working with Pledge to raise money for LGBT organizations that protect and directly support transgender youth providing services. She offered to donate up to $1.5 million.
The announcement states that PledgeCrypto is a free, fully integrated fiat and cryptocurrency donation platform that delivers donations to verified non-profit organizations. It does not require technical knowledge, experience with a cryptocurrency wallet, or know-your-customer documentation.
James Citron, CEO of Pledge, said that around 300 million people around the world currently own cryptocurrencies and intend to fund causes close to their hearts. In addition to the Ariana Grande campaign, other Pledge Crypto charitable partners are The Boys and Girls Club of Metro Los Angeles, Big Brothers and Big Sisters LA, Streetcode Academy, Worthy of Love, Safe Place for Youth, CoachArt, Goodie Nation, and Taraji P. Boris Foundation Lawrence Henson Henson.
The Pledge has also implemented a mechanism that allows each cryptocurrency transaction to contribute to verified carbon offset initiatives under the UN Climate Neutral Now Initiative to offset the environmental impact of cryptocurrency mining and transactions.
2021 will be remembered primarily as a year of new all-time highs for digital assets, but it was also the most successful year for cryptophilanthropy. As Cointelegraph reported in early February, total crypto donations in 2021 totaled $69.6 million, up from $4.2 million in 2020. Over the same period, the volume of crypto donations increased by 1558%, or almost 16 times.
RELATED: Tracked crypto donations to Ukraine rise to $108M after Kraken, Bored Ape join
In March, government officials in Ukraine partnered with cryptocurrency exchanges FTX and Kuna, as well as betting provider Everstake, to create a donation platform for individuals willing to donate bitcoin and other cryptocurrencies to support the war against Russia.