American Cancer Society Launches Cryptocurrency Fund to Foster Cancer Research
The American Cancer Society, a nationwide voluntary health organization dedicated to eliminating cancer, announced today that it had launched a new research fund that accepts cryptocurrency donations.
The foundation, which partnered with crypto donation firm The Giving Block for the initiative named the Cancer Crypto Fund, will enable people to make donations in multiple cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Basic Attention Token (BAT), Chainlink (LINK), Zcash (ZEC), and Gemini USD (GUSD).
According to the announcement, the Cancer Crypto Fund is seeking to raise a minimum of $1 million by early 2021 to fund relevant cancer research that would save people living with cancer globally.
The organization noted that its efforts to raise funds for its research purposes last year were affected by the devastating coronavirus (COVID-19) pandemic, which reduced its funding by 50%.
Given the benefits of cryptocurrencies, which has the potential that allows people to make payments from the comfort of their homes, and their rising adoption in recent times, the firm is hoping that the assets would help boost its future funding.
“The crypto community’s contributions will help re-establish crucial research funding for discoveries and better treatments to save the lives of family and friends,” the announcement reads.
High Donors To Get Special Recognition
The American Cancer Society added that it would give the honor of renaming the crypto fund to any donor who donates $250,000 or more toward the project. The donor can choose to rename the fund using their name or that of a loved one.
Furthermore, the non-profit added that crypto donors who commit up to $10,000 toward the initiative would have their names inscribed in the “Cancer Crypto Fund wall of honor.”
The Giving Block’s Crypto Charitable Offerings
Although this is the first time the American Cancer Society will be launching a cryptocurrency fund for humanity, its partner, the Giving Block, has headed several initiatives.
Since its launch, the Giving Block has been involved in crypto donations directed toward different charitable causes that address cancer, education, homelessness, childhood hunger, disaster relief, among others.