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AP National Business

EXPLAINER: How crowdfunding helps real Astroworld victims

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KMIZ

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Published 4:54 PM

By GLENN GAMBOA
AP Business Writer

In the hours following the pandemonium at the Astroworld Festival that left eight people dead and dozens injured, the requests for donations started multiplying on social media. Some immediately seemed genuine. Others were immediately suspect. Crowdfunding is an increasingly popular method of getting financial help directly to people who need it. Market research firm Technavio estimates that crowdfunding will increase by about 15%, or $196 billion, by 2025. That growth is also generating more governmental scrutiny. Last month, the Securities and Exchange Commission brought its first case involving crowdfunding fraud.

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