Bryan Armstrong, CEO of one of the largest American platforms of digital assets Coinbase and the same bitcoin wallet, announced the launch of a charitable cryptocurrency fund, which will be called GiveCrypto. Armstrong plans to raise more than $ 1 billion in 2 years.
According to Armstrong, people who managed to earn big money on cryptocurrencies, as part of the society are obliged to help those in need around the world, and not to show themselves as cool guys in Lamborghini. In addition, it will open new opportunities for the use of cryptocurrency and, of course, will promote its further popularization.
Brian also noted that donations in the cryptocurrency can reach people directly, eliminating the probability of corruption and abuse.
“The cryptocurrency is unique in sense that it can be used to send small amounts around the world in real time directly to those who need it. To do this, you need to have only a mobile phone and access to the Internet. Unfortunately, when allocating aid to other countries, high commissions and corruption are common. Cryptocurrency helps to avoid all this, “- said Brian Armstrong.
By this time the fund managed to attract $ 3.5 million, of which $ 1 million was donated personally by Armstrong. The second million was invested by CEO and co-founder of Ripple Chris Larsen.
Also, donations were made by the Chinese mining giant Bitmain and venture capitalist Fred Wilson, each of them donated more than $ 100,000.
Actually rendering assistance to those in need, GiveCrypto will begin full-time work after they collect $ 10 million, but the long-term goal of the fund is $ 1 billion within the next 2 years.
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