First Olympic Team To Accept Cryptocurrency Heading Into Winter Olympics 2022

First Olympic Team To Accept Cryptocurrency Heading Into Winter Olympics 2022
First Olympic Team To Accept Cryptocurrency Heading Into Winter Olympics 2022
September 14, 2021
Partnerships

USFS Accepts Crypto Donations

U.S. Figure Skating recently announced that it will begin accepting donations and gifts of cryptocurrency via a web-based platform powered by Engiven, creating a new path for supporters to contribute to the organization. Crypto donations will help fund several organizational projects, including Destination Beijing, which bring athletes’ family and friends together in celebration of major international competitions when travel to the event is not possible.

As the members of the U.S. Figure Skating team compete around the world, their family and friends will still be able to support them from afar despite the ongoing pandemic. The upcoming Destination Beijing Celebration will allow family and friends to gather in “U.S. Figure Skating’s Family Room” to watch their loved ones compete on U.S. Figure Skating’s media partner NBCU.

Donations to the Destination Beijing program will help bring these family and friends together and -- through the magic of NBC -- give them the opportunity for direct, live communication with their athlete after competitions. Together, they will share their stories, hopes and pride during this unique time to cheer on their athletes as they compete on the world’s greatest stage.

U.S. Figure Skating is partnering with Engiven, a company that powers an enterprise-level donation platform that more easily enables nonprofits to add cryptocurrency donations to help fund their causes. Engiven verifies donations on the blockchain, automatically exchanges the crypto for USD, and immediately transfers the funds to U.S. Figure Skating. U.S. Figure Skating is the first National Governing Body in the United States that will accept gifts in multiple cryptocurrencies.

Donors will still be able to choose which fund their gift will support, whether it be through Destination Beijing, Friends of Figure Skating, the Memorial Fund, the Mabel Fairbanks Skatingly Yours Fund, the Synchronized Skating Athlete Support Fund, or the area of greatest need. Every gift to U.S. Figure Skating, which is a 501(c)3 organization, is tax-deductible and has a direct impact on the success of skaters and figure skating programs around the country. Donations provide over $1 million annually to the Organization’s athletes and programs.

“We continue to look for new and innovative ways to provide funding to the U.S. Figure Skating athletes, clubs, programs and initiatives,” Executive Director Ramsey Baker said. “Allowing our supporters to give to U.S. Figure Skating using cryptocurrency makes sense in today’s quickly changing financial marketplace. The more avenues available for current and new donors to support the organization, the more we will be able to directly support our athletes and the many programs that service our members.”

Prior to the Covid pandemic, most nonprofits had an online strategy that included giving. Today, no nonprofit can afford to neglect its online audience, donors and seekers. Crypto is rapidly becoming part of that online ecosystem and platforms like Engiven have been able to equip foundations and nonprofits to benefit from the rapid adoption of crypto giving.

“We couldn’t be more proud of U.S. Figure Skating as they compete against the world’s best,” said James Lawrence, CEO of Engiven. “Providing a technology platform for donors to give cryptocurrency so that these athletes can achieve their dreams is truly an honor. We encourage crypto donors everywhere to support programs like Destination Beijing and the other initiatives of U.S. Figure Skating.”

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