The American Cancer Society and The Giving Block have created a new research fund “Cancer Crypto Fund” that accepts crypto donations, which seeks to raise at least $1 million by early 2021 to fund ongoing research initiatives.
It has been reported according to the American Cancer Society that Donations to fund cancer research plunged 50% in 2020, reaching the lowest this century. The sharp drop-off was attributed to the economic impact of COVID-19.
The American Cancer Society stated:
“The crypto community’s contributions will help re-establish crucial research funding for new discoveries and better treatments to save the lives of family and friends.”
However, the first crypto donor to contribute $250,000 or more will have the chance to rename the fund, either in their name or that of a loved one. Donors who give $10,000 or more will appear on the fund’s wall of honor. The fund accepts donations in Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Zcash (ZEC), Gemini Dollar (GUSD), Basic Attention Token (BAT), and Chainlink’s LINK.
Jeff Klass, the interim Chief Digital Officer at the American Cancer Society, said:
“We want as many people to join us in our mission as possible. To do that, we need to ensure people can give to the fight against cancer when, where and how they choose.”
Likewise, The Giving Block has spearheaded several initiatives to bridge the gap between charity and cryptocurrency.
Thus, the fundraiser generated $175,000 in crypto donations, as the biggest donation, sent anonymously, was 5.6 BTC, or around $186,000.