What happened?
The July 4 weekend floods in Central Texas have resulted in over one hundred deaths and caused an estimated $18 to $22 billion in damage. Rescue efforts are ongoing, and various organizations are accepting donations to aid relief efforts. Notably, The Giving Block and Crypto For Charity are facilitating crypto donations to support the affected communities.
Who does this affect?
The floods have impacted numerous residents of Central Texas, displacing communities and causing significant infrastructure destruction. Organizations like World Central Kitchen, Direct Relief, and Austin Pets Alive are on the ground providing necessary assistance to those affected. The disaster also affects and mobilizes donors and charities globally as they rally support through both traditional and crypto donations.
Why does this matter?
The acceptance of cryptocurrency donations for disaster relief signifies a shift in how charitable contributions are being made, potentially increasing the speed and reach of aid. The donations, especially amid Bitcoin’s new all-time high, showcase the growing market influence and potential of crypto philanthropy. Matching initiatives and the broad acceptability of crypto assets in these efforts could further encourage more widespread use and adoption of crypto as a viable donation method.