Endaoment raises $7M for nonprofits in its first year as crypto donations thrive
Blockchain-based nonprofit organization Endaoment has raised more than $7 million for charities in its first year of operations, marking another major milestone for the rapidly growing cryptocurrency donations industry.
Endaoment’s donor-advised funds, or DAFs, have been distributed to more than 100 nonprofits over the past year, the company announced Thursday. Endaoment said it has distributed roughly 60% of donated funds over that period, which is considerably higher than the average of around 22% for traditional DAFs. Endaoment president and CEO Robbie Heeger credited the efficiency of on-chain technology as well as best practices for the high distribution rate. He told Cointelegraph that Endaoment has onboarded over 200 organizations to
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