{"id":63677,"date":"2018-06-27T23:41:26","date_gmt":"2018-06-28T06:41:26","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=63677"},"modified":"2026-04-25T06:02:21","modified_gmt":"2026-04-25T05:02:21","slug":"coinbase-ceo-brian-armstrong-launches-crypto-charity","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/coinbase-ceo-brian-armstrong-launches-crypto-charity\/","title":{"rendered":"Coinbase CEO Brian Armstrong Launches Crypto Charity with Donations from Ripple and Zcash Founders"},"content":{"rendered":"

Outside the glamour of Bitcoin millionaires and record-breaking ICOs, few crypto-powered projects aim to resolve global issues. Coinbase CEO Brian Armstrong<\/a> seeks to change this by launching a non-profit crypto charity, GiveCrypto.<\/p>\n

Using Crypto to Share the Wealth<\/h2>\n

Since the rise of Bitcoin<\/a> in 2017, cryptocurrency has fueled a wave of overnight millionaires. In their sudden rise to wealth, fortunate industry leaders are looking to use their accumulated digital assets and the benefits of its technology to directly aid those in economic crisis.<\/p>\n

Founded in 2018 by Coinbase CEO Brian Armstrong, GiveCrypto<\/a> is a global foundation aimed at distributing digital currencies to people in need.<\/p>\n

The charity fund is framed as an “agnostic” platform, indiscriminate of the type of digital currency offered and encourages donations in any cryptocurrency \u2013 such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, and ZCash.<\/p>\n

In an interview with Forbes<\/a>, Armstrong described his inspiration for GiveCrypto:<\/p>\n

\u201cI started thinking about this last year when I saw all this money people were making in crypto. The goal is to target people in poverty and economic crisis.\u201d<\/p><\/blockquote>\n

GiveCrypto to Raise $1 Billion by 2020<\/h2>\n

The charitable fund intends to raise $10 million by the end of 2018 and reach $1 billion raised by 2020. Armstrong\u00a0has already donated a personal $1 million to the charity along with sizeable donations by Ripple<\/a> Co-founder Chris Larsen, Ripple CEO Brad Garlinghouse, and Zcash<\/a> CEO Zooko Wilcox<\/a>.<\/p>\n

By using cryptocurrencies to distribute wealth amongst those in poverty, GiveCrypto can allot a greater portion of donor's money directly to those in need \u2013 eliminating the cumbersome transaction costs of cross-border transfers and giving those without access to financial services complete control of their received donations.<\/p>\n

With Handup.org Co-founder Rose Bloom at the helm, GiveCrypto aims to hire teams of “crypto ambassadors” to help research regions where allocated funds would have the greatest impact and assist recipients with learning how to use cryptocurrency wallets.<\/p>\n

Armstrong spoke about the initiative in this video:<\/p>\n