WeTrust Spring to Match 100% of ETH Donations Through Giving Tuesday, Announces 14 Partnerships
A fundraising platform has announced that it will match 100 per cent of every Ethereum donation as part of Giving Tuesday through to November 27. It has also revealed its inaugural partnerships with 14 charitable organisations.
WeTrust Spring is a fundraising platform that gives social entrepreneurs and nonprofits a platform to raise funds through Ether. WeTrust was founded in 2016 by George Li, Patrick Long, and Hoang Nguyen. Its advisors include Vitalik Buterin and Emin Gün Sirer.
Earlier this month, the platform launched Spring. The aim is to provide "decentralised financial services and create a more inclusive financial system which allows capital to reach those in need," according to its website.
Now, as part of Giving Tuesday on November 27, WeTrust Spring has announced that it will match 100 per cent of every individual's Ethereum donations, up to $100k. It is also partnering up with 14 charitable organisations.
These include: African Advocacy Network, Bridge Global Foundation, Cavalier Rescue, Code for America, Cultural Heritage Imaging, Equity in Access, Fight for the Future, Lava Mae, Learning Equality, Open Library, Rainforest Trust, Surgeons of Hope, Ubuntu Foundation, and VietSeeds Foundation.
According to its website, the platform has seen 2.442 of 5,000 Ether raised for the Rainforest Trust, which is aiming to save 500,000 acres of rainforest. Code for America, which wants to break the cycle of poverty and incarceration, has raised 1.063 of its 2,000 Ether goal. The African Advocacy Network, which is raising funds for a second attorney to help asylum seekers, has seen 0.233 Ether of its 220 goal. Open Library, which is working at building a world library, has generated 2.860 out of 50 ETH.
Following the announcement, Li said this was an exciting moment to help the crypto community connect with nonprofit organisations, which is why the platform decided on the donation-matching incentive.
"The explosion of cryptocurrency has resulted in rapid growth in crypto donations, and one of the untold stories about the crypto community is that we want to help catalyse positive change," Li added. "It's an honour to help our partner organisations continue doing the amazing work they already do."
Since the existence of the crypto market, more people are using their assets to donate to charity due to the level of transparency it gives. Figures suggest that around $200 billion worth of crypto from 40 million cryptocurrency holders has been donated to charities. One organisation that has helped is the Pineapple Fund, a philanthropic project set up by an anonymous individual, which has donated around $55 million.
The intention of WeTrust Spring is to connect donors with charitable organisations, providing them with a link to give to those in need.
"Open Library is all about exploring how we can make the Library work for the people," said Michael Karpeles, the lead maintainer of Open Library, the world's largest online, open-source, nonprofit digital public library. "We see ETH donations as an opportunity to improve inclusivity and democratize our bookshelves."
About Rebecca Campbell
Rebecca Campbell is a freelance bitcoin and blockchain journalist based in England. She has a keen interest in the digital currency market and the use cases that the blockchain is being used in and is excited to see the disruptive changes that the technology is delivering in our day-to-day lives.