• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Saturday, February 4, 2023
Midland County News Online
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home Technology Crytpocurrency

The Giving Block Launches Crypto Donation Service For High-Net Worth Individuals – Cointelegraph

the-giving-block-launches-crypto-donation-service-for-high-net-worth-individuals-–-cointelegraph
Share on FacebookShare on Twitter

Giving Block co-founder Pat Duffy said the service streamlines the platform’s existing donation process, allowing “high-value donors to quickly and securely give large gifts to their favorite charities while reducing their tax bill.”

980 Total views

25 Total shares

The Giving Block launches crypto donation service for high-net worth individuals

The Giving Block, an online platform which allows nonprofit organizations and charities to accept digital asset donations, has launched a service tailored to donors wishing to send large amounts of crypto.

In a Wednesday announcement, the Giving Block said it partnered with crypto tax startup Taxbit, New York-based accounting firm Friedman LLP, and Ren to start a service aimed at individuals, institutions, and advisors looking to reduce their tax exposure when donating crypto. Giving Block co-founder Pat Duffy said the Private Client Services streamlines its existing donation process allowing “high-value donors to quickly and securely give large gifts to their favorite charities while reducing their tax bill.”

According to the platform, individuals wishing to make large donations in crypto, including “illiquid small-cap and mid-cap cryptocurrencies” now have more opportunities to reduce their capital gains tax and potentially increasing deductions when it comes time to report to the IRS. The Giving Block’s “high-value donors” have access to crypto tax experts, accounts, and appraisers to facilitate the transaction and subsequent reporting.

With many countries already celebrating the holidays this year, many have chosen to give to charity in addition to gifts for friends and family. Giving Block CEO Alex Wilson told Cointelegraph last week he expected the platform to handle more than $100 million in crypto donations for 2021, a more than 2,400% increase over $4 million the previous year.

Related: Charity platform expects significantly larger crypto than fiat donations for Giving Tuesday

Some trading platforms have already enabled the gifting of crypto this holiday season. Digital payments company Block announced on Tuesday that users of its subsidiary Cash App could send as little as $1 in Bitcoin (BTC) or stock as a gift in the same way they had been sending cash. Fintech provider Unbanked said earlier this month it would be enabling crypto donations for Toys for Tots, a program run by the United States Marine Corps that collects toys to distribute to disadvantaged children.

Midland County News Online

© 2021 Midland County News Online

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 Midland County News Online

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT