News

Coinbase CEO Launches Crypto Charity Fund Which Aims To Reach A Billion People

Brian Armstrong the CEO of arguably the Largest exchange in the US Coinbase announced the launch of a Crypto Charity fund called GiveCrypto which aims to Financially empower people by distributing Cryptocurrency globally to the people in need.

Funds will be raised from the Cryptocurrency holders through GiveCrypto and 100% of it will be distributed among the people who are in dire need of money, initially, it will be emerging markets which are going through Financial crises (Ex. Venezuela, Zimbabwe).

GiveCrypto aims to raise $10 Million shortly and has already raised about $3.5 Million which includes $1 Million from Brian himself. The charity fund aims to reach a Billion people and reach a fund size of a Billion Dollars in the next two years.

GiveCrypto currently accepts Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Zcash (ZEC). The donations made will be tax deductible and to receive a receipt the donor must provide name and email, but if the donor decides to donate anonymously then it won’t be tax deductible.

Brian mentions the goals of the funds which are as follows:

  1. Help people in need by sending money to them directly

  2. Advance real-world usage and benefits of cryptocurrency

  3. Provide universal access to an open financial system

Brian said:

Given the enormous wealth creation from cryptocurrency, and the future potential upside, I believe there is a rare opportunity to create a large non-profit fund.

The Crypto space is seen in a get rich quick kind of light by many people, and it is not unknown that most people who come into this space do not understand the long-term vision which to bring economic freedom to all the people in the world who suffer from unavoidable tyranny and to bank the unbanked.

It is a good step by Coinbase by the launch of this fund which will attempt to change the “bros in Lambos” image by bringing the technology to a much wider audience for real use cases.

Some other projects which are known for charity work in the Crypto space are Ripple which gave away $29 Million to public schools and $4 Million to Ellen’s fund and Pineapple fund, an anonymous fund which committed 5104 BTC to various charities.

The Launch dinner video from Brian:

Brian Armstrong Tweeted:

Ryan Hoover Tweeted:

Image Source: Flickr

Also Read:


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Shrikar Parashar

Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.

Share
Published by
Shrikar Parashar

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago