The Giving Block, a platform that enables nonprofit organizations to accept cryptocurrency donations, handled the transfer. Donors have more than 200 recipient organizations to choose from through the platform, which also offers information and a guide on the tax benefits of crypto donations.
SushiSwaps donation was incredibly generous, and were excited to see teams building in crypto donate to awesome causes like No Kid Hungry, Alex Wilson, co-founder of The Giving Block, told CoinDesk.
Every major donation like this encourages more nonprofits to accept cryptocurrency donations, pushing adoption further in the nonprofit industry. No Kid Hungry was one of our earliest clients, and theyve helped us grow from working with 10 nonprofits to now working with over 200, Wilson added.
The SushiSwap exchange has proven one of the biggest success stories in the recent explosion of decentralized finance (DeFi) projects. The price of its governance token, SUSHI, skyrocketed to all-time highs above $20 in March, representing a 30-fold gain from its November 2020 low. (Its price was about $18 on Thursday.)
In December, No Kid Hungry was one of more than 120 organizations, including Save the Children and The Tor Project, that took part in #BitcoinTuesday, the crypto edition of the annual charity event #GivingTuesday, spearheaded by The Giving Block.
According to a March report on No Kid Hungrys coronavirus response from executive chair Billy Shore and president and CEO Tom Nelson, since the beginning of the pandemic last year the organization has provided more than $66 million in grants to 1,800 schools, nonprofits and food banks in all 50 states, Washington, D.C., Puerto Rico and Guam and has served nearly 1 billion meals nationwide.
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