U.S Figure Skating to Accept Crypto Donations
The U.S. Figure Skating, one of the national governing sports bodies in the U.S., has announced to accept crypto donations from the public, riding on the technical provisions from Engiven, a cryptocurrency donation management platform providing an end-to-end giving solution benefiting nonprofits and their donors.
The U.S. Figure Skating plans to use the proceeds from the donations to bring the families of its representatives together as the coronavirus pandemic has hindered many visitors from travelling to the Beijing Olympics to cheer their athletes.
According to the announcement, the “Donations to the Destination Beijing program will help bring these family and friends together and -- through the magic of NBC -- give them the opportunity for direct, live communication with their athlete after competitions,” adding that “Together, they will share their stories, hopes and pride during this unique time to cheer on their athletes as they compete on the world’s greatest stage.”
The donations for the U.S. Figure Skating’s slew of programs or projects are not poised to be dominated in one cryptocurrency, rather it will be received in multiple cryptocurrencies. The funds will be converted immediately to the United States Dollar and forwarded to the U.S. Figure Skating.
“We continue to look for new and innovative ways to provide funding to the U.S. Figure Skating athletes, clubs, programs, and initiatives,” Executive Director Ramsey Baker said. “Allowing our supporters to give to U.S. Figure Skating using cryptocurrency makes sense in today’s quickly changing financial marketplace. The more avenues available for current and new donors to support the organization, the more we will be able to directly support our athletes and the many programs that service our members.”
Cryptocurrency donations are becoming increasingly popular as many nonprofit organizations seek to tap into the growing hype around cryptocurrencies to attract donations from the closed ring of individuals that have now embraced cryptocurrencies.
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