American Cancer Society (ACS) along with The Giving Block, a crypto donations company, launched “Crypto Cancer Fund,” which will be exclusively funded using cryptocurrency.
According to a release emailed to AMBCrypto, American Cancer Society is seeking to raise at least $1,000,000 by early 2021. The crypto community’s contributions are said to go directly to funding ACS’ cancer research program and will help support “crucial research funding for new discoveries and better cancer treatments.”
The fund will accept contributions in Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), Zcash (ZEC), Gemini Dollar (GUSD), Basic Attention Token (BAT) and Chainlink (Link).
Pat Duffy, co-founder of The Giving Block said in a statement:
I believe cryptocurrency will play a pivotal role in curing cancer…With Bitcoin hitting a new all-time high, the creation of this new fund opens the door for the booming crypto market to save lives.
Additionally, the first crypto donor who contributes $250,000 or more will apparently have the opportunity to name the fund, “in their name or that of a loved one.”
Furthermore, a Crypto Cancer Fund Wall of Honor will feature donations of $10,000.
ACS will announce the renaming of the fund when the major gift occurs.
American Cancer Society’s interim chief digital officer, Jeff Klass wanted “as many people” to join the cause, for which he wanted to ensure that “people can give to the fight against cancer when, where and how they choose.”
So far, the initiative has generated about $175,000 in crypto donations, among which, the largest contribution of 5.6 BTC ($186,000) was sent anonymously.
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