Brian Armstrong, CEO of the largest digital assets platform Coinbase, has announced the launch of a charitable crypto-based fund called GiveCrypto. Armstrong plans to attract $1 billion investments in two years.
According to Armstrong, having managed to earn money on bitcoin and other cryptocurrencies, community members should help the needy all over the world, and not position themselves as “cool guys in Lamborghini”. He also notes that crypto donations can reach people directly, eliminating the likelihood of corruption and abuse.
The fund has already raised $3.5 million, of which $1 million was invested by Armstrong. It is also reported that the contribution of more than $1 million was made by Ripple co-founder Chris Larsen.
GiveCrypto plans to start helping people after the amount of donations in $10 million.