Crypto Donations Surpass $1B in 2024, Driven by Market Growth and Regulatory Clarity

Crypto donations surpassed $1 billion in 2024, driven by the growth of the digital asset market and enhanced regulatory clarity worldwide, according to data compiled by The Giving Block, a platform facilitating nonprofits' fundraising from crypto enthusiasts.

The Giving Block highlighted several trends in crypto philanthropy, including the increasing number of nonprofits accepting crypto donations, with over 70% of the top US-based charities now doing so. Geographically, crypto giving in the US was concentrated in four states and the District of Columbia, which accounted for around 69% of total donation volume: New York (22%), Florida (15%), California (13%), Pennsylvania (11%), and the District of Columbia (10%).

Crypto donations were diverse in their causes, with education (16%) and health/medicine (14%) being the top two categories. Six more categories accounted for 5%–10% of donations, while seven categories accounted for between 1% and 5%. The intersection of blockchain technology and philanthropy is also emerging, with the potential to increase the impact of blockchain applications.

Stablecoins accounted for 44% of crypto giving in 2023, but 2024 saw a rise in donations with appreciating assets like Bitcoin (BTC), Ether (ETH), XRP (XRP), and Solana (SOL), which together accounted for 90% of all crypto donated in 2024. The average crypto donor is often in their 20s and 30s, wealthier, and more philanthropic than the average donor, with motivations ranging from "crypto evangelism" to financial advantages.

The Giving Block expects crypto donations to reach $2.5 billion in 2025 due to increased crypto wealth generation and adoption, with memecoins potentially playing a larger role. By 2035, the projected amount of crypto giving could reach $89 billion.