CEO of exchange giant Coinbase Brian Armstrong launched GiveCrypto.org earlier this year in order to encourage everyone to donate to charity for those living in poverty and he also promised to donate a huge chunk of his own fortune to charity and that is what we are reading in the blockchain news of today.
Brian Armstrong said:
“This year, I started my first philanthropic effort, GiveCrypto.org, which makes direct cash transfers to people living in poverty. I’m excited about the potential for this organization to help people, but I’m still early on my journey of discovering how to have the most impact via philanthropy.”
Armstrong is the first crypto entrepreneur to promise to donate a huge part of his wealth for charitable causes. He even signed the Giving Pledge which is a campaign that was started by Bill Gates and Warren Buffett that tries to encourage those who have big fortunes to use their money and make the world a better place.
There are others who stand together with Armstrong in this cause such as Michael Bloomberg, Elon Musk and Mark Zuckerberg. All of them dedicated a lot of their wealth to charity.
Coinbase is one of the largest crypto exchanges whose value reached about $8 billion of which $1.3 billion belong to Armstrong as a co-founder. With the latest market downturn, Armstrong’s net worth will also drop slightly but he won’t be far off the $1 billion range.
On the Giving Pledge website Armstrong explained:
“Once a certain level of wealth is reached, there is little additional utility from spending more on yourself. One’s ambition begins to move outwards. I’ve always admired founders and leaders whose ambition to improve the world supersedes any goal related to personal wealth.’’
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]