Save the Children's HODL Hope Campaign Raises $7.6 Million Through Crypto Donations
Summary:
The Save the Children's HODL Hope Campaign, aimed at improving children's lives globally through crypto donations, has raised more than $7.6 million thus far, half of which is in Ether (ETH). With a target of $10 million by 2023, the campaign needs another $2.4 million. Bitcoin, USD Coin, and various major altcoins have also significantly contributed to the donations. The initiative's ease of cross-border transfers has encouraged wider global participation, including major contributions from the Own The Doge and PleasrDAO communities.
The philanthropic initiative HODL Hope Campaign from Save the Children, utilizing cryptocurrency to better the lives of children across the globe, has so far raised over $7.6 million, with half of this amount coming from donations in Ether (ETH). However, achieving their end-goal of $10 million by the close of 2023 necessitates another $2.4 million. ETH made up 50%, or $3.83 million, of the total crypto donations to this point. Information regarding the total crypto contributions (in US dollars) can be found at hodlhope.org.
Bitcoin (BTC) constituted 34% of all donations in the form of cryptocurrency, translating to slightly above $2.6 million. USD Coin (USDC), a stablecoin backed by the U.S. dollar and established by Circle, ranked third among preferred donation methods for those in the crypto community wanting to support children. Almost $520,000, or 7%, of the total donations were in USDC. Other significant donations made were in the U.S. dollar, which made up 2% of all donations, and prominent alternative cryptocurrencies. These included Bitcoin Cash (BCH), Tezos (XTZ), ThunderCore, Tether (USDT), Litecoin (LTC), and Solana (SOL).
Currently, the communities of Own The Doge (DOG) and PleasrDAO lead the donor leaderboard after they donated 291.16 ETH, or more than $1 million. It is, however, possible for donors to remain anonymous and opt out of appearing on the leaderboard. Anonymous donors have, to date, contributed $3.9 million towards the campaign's total donations.
The simple cross-border transfer of funds has made it possible for more people to contribute to global causes. In recent times, the Singapore Red Cross, a charity focusing on humanitarian aid and community services, began accepting donations in crypto. This was facilitated by a partnership with Triple-A that enabled the acceptance of BTC, ETH, USDT, and USDC. "Accepting digital currencies permits us to welcome a new group of contributors who are technologically proficient and are eager to use their digital assets to effect positive change," stated Benjamin William, the Singapore Red Cross's Secretary General and CEO.
Published At
11/29/2023 10:03:17 AM
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