CRYPTOCURRENCY
FTX Future Fund Shut Down Following Exchange's Collapse
FTX Future Fund, the philanthropic arm of FTX exchange, has shut down following the exchange's collapse in November 2022. The fund had pledged $1 billion in donations toward research academics across prestigious universities, but the team behind the project resigned after FTX filed for bankruptcy. Many scholars and researchers who were early recipients of the grant are now stuck in limbo over payment of further grants for their programs.
Crypto Donations to Exceed $10 Billion in a Decade
The Giving Block's annual report predicts that crypto donations will surpass $10 billion by November 2032, with USD Coin being the most popular cryptocurrency used in donations. Ethereum co-founder Vitalik Buterin holds the record for the largest crypto donation of the year, giving $9.4 million through his philanthropic fund.
Philcoin Rolls Out Staking Program for Donating Charity
To change the way of charity, Philcoin has established a staking mechanism that will enable users to donate part of their earnings to a charity of their choice within PHILApp.
Tencent Uses Blockchain in Annual "99 Giving Day" Charity Campaign
Chinese internet giant Tencent will use of blockchain technology in its annual internet charity campaign dubbed “99 Giving Day.”