Russian and Spanish－is published at a time when US President Joe Biden is scheduled to host a "Summit for Democracy" on Thursday and Friday
We’re working on something similar to that; it hasn’t gone live yet. The way we’ve started working with some of the DeFi platforms and protocols is, for example, we’ve partnered with 1inch, where users on the 1inch platform can donate to all of the causes we work with. So, if you go on the 1inch page, there’s a donate-crypto button on their page. And if you click that, you’re able to donate to all the different causes we work with. We don’t have anything yet for lending, staking and yield-ear...
Russian and Spanish－is published at a time when US President Joe Biden is scheduled to host a "Summit for Democracy" on Thursday and Friday
We’re working on something similar to that; it hasn’t gone live yet. The way we’ve started working with some of the DeFi platforms and protocols is, for example, we’ve partnered with 1inch, where users on the 1inch platform can donate to all of the causes we work with. So, if you go on the 1inch page, there’s a donate-crypto button on their page. And if you click that, you’re able to donate to all the different causes we work with. We don’t have anything yet for lending, staking and yield-ear...
The 23,000-word report, available in five languages－Chinese, English, French
Do you plan to integrate with DeFi, such as designing a solution that could directly enable a portion of proceeds from borrowing and lending interest rates to go to charities
The 23,000-word report, available in five languages－Chinese, English, French
Do you plan to integrate with DeFi, such as designing a solution that could directly enable a portion of proceeds from borrowing and lending interest rates to go to charities
File photo shows the White House and a stop sign in Washington DC, the United States. Photo/Xinhua
I think it will continue to get more apparent. Luckily, for crypto donations — surprisingly — that was remarkably clear for a long time already, as early as 2014. The IRS already put out guidance on how crypto donations are treated from a tax perspective. What the IRS decided in 2014 was that crypto would be treated as property. And when it comes to donating property, for crypto, it’s very similar to how crypto treats stock and other property donations because the donors don’t have to pay cap...
File photo shows the White House and a stop sign in Washington DC, the United States. Photo/Xinhua
I think it will continue to get more apparent. Luckily, for crypto donations — surprisingly — that was remarkably clear for a long time already, as early as 2014. The IRS already put out guidance on how crypto donations are treated from a tax perspective. What the IRS decided in 2014 was that crypto would be treated as property. And when it comes to donating property, for crypto, it’s very similar to how crypto treats stock and other property donations because the donors don’t have to pay cap...
Financial Studies of Renmin University of China, a Chinese think tank.
Typically, what we recommend is just donating the proceeds of the NFT. The tricky thing about sending the NFT directly to the nonprofit is valuation and tax deductibility. So, it gets complicated with NFTs since there isn’t a lot of guidance from the IRS and other tax agencies on the tax treatment of NFTs. But it is evident when you’re just donating the proceeds because then it’s just like a regular crypto donation. So, in general, we’re saying, “Hey, if you’re an artist, a creator, please se...
Financial Studies of Renmin University of China, a Chinese think tank.
Typically, what we recommend is just donating the proceeds of the NFT. The tricky thing about sending the NFT directly to the nonprofit is valuation and tax deductibility. So, it gets complicated with NFTs since there isn’t a lot of guidance from the IRS and other tax agencies on the tax treatment of NFTs. But it is evident when you’re just donating the proceeds because then it’s just like a regular crypto donation. So, in general, we’re saying, “Hey, if you’re an artist, a creator, please se...
CT: What is the volume of donations you saw this year, and how does it compare with previous years?
We’ll do over $100 million in donation volume just this year. And usually, it’s more than people expect. So, it’s significantly more than last year. Last year, we did $4 million for the entire last year. We’re doing more than that every month now. Also, in terms of the number of nonprofits, we’re working with huge growth. We had about 100 nonprofits on the platform last year, and now we just passed 1,000. So, basically 10x growth in terms of the number of nonprofits accepting crypto. It’s rea...
CT: What is the volume of donations you saw this year, and how does it compare with previous years?
We’ll do over $100 million in donation volume just this year. And usually, it’s more than people expect. So, it’s significantly more than last year. Last year, we did $4 million for the entire last year. We’re doing more than that every month now. Also, in terms of the number of nonprofits, we’re working with huge growth. We had about 100 nonprofits on the platform last year, and now we just passed 1,000. So, basically 10x growth in terms of the number of nonprofits accepting crypto. It’s rea...
