Coinbase CEO unveils crypto charity fund targeted at $1 billion

TechCrunch | 6/28/2018 | Jon Russell
Fubu_chik (Posted by) Level 3
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Hot on the heels of Coinbase expanding its crypto fund to U.S.-based investors, the company’s own CEO has unveiled a fund of his own but this time it is focused on philanthropy. is aiming to raise $10 million by the end of this year — it has already secured $3.5 million — with a view to growing its total pot to $1 billion over the next two years.

Coinbase - CEO - Brian - Armstrong - Gates

Coinbase CEO Brian Armstrong said he’s been inspired by the Gates Foundation and acts of charity from the crypto community — including Ripple donating millions in XRP to schools, the Pineapple Fund, and OMG giving $1 million to GiveDirectly — all of which he said shows that crypto can have a positive impact worldwide.

“People who invested early in crypto have amassed an enormous amount of wealth in a relatively short amount of time. Yet the reputation of the crypto community has been dominated by images of “bros in Lambos,” whose antics get a lot of attention. This doesn’t represent the best of our community.

People - Crypto - Ecosystem - Responsibility

“Most people I respect and know in the crypto ecosystem believe we have a responsibility to help this...
(Excerpt) Read more at: TechCrunch
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