The One Foundation becomes the first Chinese organization to accept Bitcoin donations

The One Foundation, China's first officially recognized private charitable fundraising organization, recently made headlines by becoming the first Chinese entity to accept Bitcoin donations. Founded in 2007 by renowned actor Jet Li, the foundation faced regulatory hurdles in its early years, operating under the auspices of the Red Cross Society of China. However, its desire for autonomy led to a successful registration as an independent foundation in 2010.
 

The foundation's decision to accept Bitcoin donations came amidst growing distrust in traditional charity organizations following scandals and public dissatisfaction, notably highlighted during the Ya'an earthquake in 2013. Within just two days of announcing their Bitcoin donation address, the One Foundation received an impressive 230 BTC ($30,000 at the time), showcasing the enthusiasm of the Chinese Bitcoin community.