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[Blockchain Today Reporter Seungwon Jeong] Four cryptocurrency and blockchain veterans have joined the Founders Circle, an industry group that supports The Giving Block’s new cryptocurrency-focused charity.
According to Cointelegraph reports, the’crypto donation pledge’ encourages cryptocurrency investors and businesses to donate more than 1% of their shares to charities each year. This initiative is one of The Giving Block’s obligations to increase charitable donations and support more nonprofits to receive cryptocurrency donations.
The Giving Block has created a Founders Circle to encourage initiatives and invite many industry leaders. Founders Circle welcomed four new members on the 27th of last month, starting with Ryan Selkiss, founder and CEO of Mesari.
In response, Dan Masjusky, founder of CMS Holdings and former head of Circle Trade, and Qiao Wang of DeFi Alliance joined. They joined on April 28 and 29, respectively.
On the 4th, Haseeb Queshi, managing director of Dragonfly Capital, was announced as the fourth member of the industry group. “The cryptocurrency community was a very tolerant place,” said Quesi, when deciding to join Founders Circle. I’m glad I can return that generosity, and I’m very happy to donate to a charitable organization with great influence. Cryptocurrency will be the best way to do this.”
The Giving Block will announce new Founders Circle members by May 30th, at which time members’ application for membership is officially closed.
The crypto donation pledge started at the right time in line with the evolution of digital assets. The cryptocurrency market is currently worth around $2.3 trillion, which means that a 1% contribution of all industry workers and investors amounts to $23 billion. As the mainstream acceptance rate for digital assets increases, it is likely that more non-profit organizations will accept cryptocurrency donations.
A good example of this shift is the American Cancer Society and The Giving Block’s Cryptocurrency Cancer Fund in January. This research fund accepts donations in the form of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies.