The US Figure Skating body recently announced it started accepting various cryptocurrencies for donations. It opened up its donation pool for Dogecoin and Shiba Inu after partnering with Engiven.
New Ways of Providing Funding to Figure Skating
Executive Director Ramsey Baker claims that cryptocurrencies are an innovative way of donating funds. He also noted that this new way of funding would help athletes and programs secure more financial support.
According to Baker, the US Figure Skating body is always looking for new ways of financing their athletes, clubs, programs, and initiatives.
This agency partnered with Engiven that automatically converts all crypto donations into dollars, successfully managing crypto market volatility.
Furthermore, the US Figure Skating mainly gets its revenue from various dues and admissions or licensing fees.
Even though cryptocurrencies have become somewhat mainstream, the US Figure Skating is the only sports governing body that got involved with digital assets. It’s also the first one to accept donations in crypto.
When it comes to sports, the US has so far won 51 medals in figure skating, including 15 gold medals. This number is higher than any other country.