GMB Ep #123: Tax Efficient Crypto Gifting With Pat Duffy

 

The world of cryptocurrency is innovative and ever-expanding. In today’s episode of Grow Money Business, we are joined by Pat Duffy, a cofounder of The Giving Block. The Giving Block is a platform that enables non-profit organizations to receive cryptocurrency donations. Throughout the episode, Pat and Grant dive deep into the tax benefits related to crypto donations, and discuss how The Giving Block is changing the future of charitable giving.

 

 

Show Notes

[03:14] The Giving Block – We start the conversation with a brief look at what The Giving Block does and how it helps donors and non-profit organizations.

[07:10] The Process – Pat walks us through the process of what happens when someone interested in crypto gifting signs up with The Giving Block.

[10:00] Donor Advised Funds – Pat explains the process of donating via a Donor Advised Fund.

[16:33] Why Crypto? – Pat shares his take on some of the reasons why non-profit organizations may want to take crypto donations.

[19:05] Barriers – Pat discusses some of the challenges non-profit organizations face when starting to accept crypto donations.

[27:30] Getting Traction – Pat shares with us what it was like at the beginning of his service and what it took to get enough traction for the service.

[31:30] Business Model – Pat shares with us how the business model of the Giving Block works and some of the areas the platform will be expanding into in the near future.

[36:52] Managing Growth – Pat dives into their strategy of managing their growth.

[42:54] Shift4 – The Giving Block was recently acquired by the payment processing solutions company, Shift4. Pat shares what opportunities and possibilities this acquisition will open up.

[49:10] Tips for Donating – Pat shares some advice for those who own crypto assets and want to make a crypto donation.

 

Resources

Posted in Entrepreneurship, Investing, Podcast, Taxes & Accounting and tagged , , .

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