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Crypto Gifts Surge 1,082% at Fidelity’s Philanthropic Powerhouse

  • Donors can avoid capital-gains tax on non-cash investments
  • Largest U.S. grant-maker has faced scrutiny as assets balloon
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As cryptocurrencies boomed last year, boosting the wealth of investors in the asset class, so did the amount of philanthropic gifts made with digital tokens.

Fidelity Charitable, the largest grant-maker in the U.S., received $331 million in digital assets last year through its donor-advised funds, or DAFs, a nearly 12-fold increase from the $28 million it got in 2020, according to a report released Tuesday. Bitcoin accounted for 88% of crypto donations, followed by Ether at 11%.