The Giving Block launches $2 million fund for California wildfires

The Giving Block has initiated an emergency response fundraiser aimed at assisting victims of the recent wildfires in Los Angeles, California. 

The organisation, which facilitates cryptocurrency donations for non-profits, has set a goal to raise $2 million for this cause. 

In a significant show of support, Jared Isaacman, CEO of Shift4 and the parent company of The Giving Block, is matching the first $1 million in donations. 

Ben Pousty, chief operating officer at The Giving Block, highlighted the advantages of donating in cryptocurrencies. 

"Donating crypto can help donors avoid capital gains taxes — allowing them to potentially deduct the full fair market value on their taxes while giving more to causes they care about, making crypto an innovative, efficient way to give back," he stated.

This initiative underscores how cryptocurrencies can enhance charitable giving by providing transparency and efficiency compared to traditional donation methods.

The Giving Block has a history of mobilising resources during crises. 

Following the devastating Maui wildfires in August 2023, the organisation established a relief fund and matched donations with $500,000 of its own capital. 

In 2024, they raised $1 million for hurricane relief efforts on the Eastern Seaboard. 

Since its inception, The Giving Block has raised approximately $200 million in crypto donations and has collaborated with numerous non-profits globally, including the American Cancer Society and No Kid Hungry.

As the wildfires continue to impact communities in Southern California, The Giving Block's efforts aim to provide critical support for those affected. 

The organisation encourages individuals to contribute through its platform, highlighting the effectiveness of cryptocurrency in facilitating rapid and impactful charitable donations.