Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Coinbase CEO Launches “GiveCrypto” with $1M Donation for the Needy

written by

Coinbase CEO Launches "GiveCrypto" with $1M Donation for the Needy

Support free journalists: > send a tip

Brian Armstrong, the CEO of digital currency service Coinbase, is launching a project to help people out of poverty with a personal USD 1 million donation.

The new charity project is called GiveCrypto, a global enterprise which will make cryptocurrency donations to worthy recipients, who will then be able to make personal choices in whether to keep their cryptocurrency donations or exchange them for fiat.

GiveCrypto wants to raise USD 10 million by the end of 2018 and grow to a fund of USD 1 billion over two years. Donations will hopefully come from wealthy donors who have amassed wealth through cryptocurrency, passing on their good fortunes to those in need of financial help. Suggested cryptocurrencies for donations are Bitcoin, Ripple, and Zcash.

Armstrong points to research that shows that the immediate transfer of funds directly to recipients is the best way to get support to the right people; it costs nothing to very little to send and is ideal for those who have no access to the banking sector, which in these cases is quite common.

There’s been a significant rise in recent years in charities which are now supported by cryptocurrency donations. Some of these have joined a growing establishment of charities accepting Bitcoin donations such as Electronic Frontier Foundation, Multidisciplinary Association for Psychedelic Studies, WikiLeaks,, Watsi, Water Project, Code to Inspire, Bitgive and Epic Change.

Blockchain has made charitable donations far more transparent. Simon Moss, a co-founder of Global Citizen, suggests that the technology has the potential to change the face of humanitarian aid, claiming that blockchain can provide the much-needed transparency to donations.

“Blockchain can provide clarity on not only who is donating, but how money and supplies flow through organizations that provide aid – such as tracking a gallon of water purchased by an organization to the location where it was delivered,” he wrote.

Armstrong suggests that there, are, of course, challenges with this type of donation, such as the possibility of the cryptocurrencies being stolen by criminals or corrupt governments, another reason blockchain is increasingly being adopted by charities. Armstrong suggests that this won’t curb his enthusiasm, as distribution is an area he is well familiar with, due to dealing with fraud over the years in his role with Coinbase. His focus remains on those most in need:

“I 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.”

To date, contributions have also been received from Ripple co-founder Chris Larsen, venture capitalists Ron Conway and Fred Wilson, Ripple CEO Brad Garlinghouse, and ZCash CEO Zooko Wilcox.


Follow on Twitter at

Telegram Alerts from at

Image Courtesy: Pixabay - Leroy_Skalstad

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter