Charitable Causes to Get Crypto Wealth from Coinbase CEO

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by Wanguba Muriuki · 3 min read
Charitable Causes to Get Crypto Wealth from Coinbase CEO
Photo: Pavlos Giorkas / Flickr

The Giving Pledge has acquired another new member in Coinbase CEO Brian Armstrong. He has committed a significant part of his wealth to help others.

Warren Buffet and Bill Gates were among the pioneer billionaires who pledged to give a chunk of their wealth to charity. Now, Coinbase CEO Brian Armstrong is joining them. The billionaires pledged to donate their wealth for charitable activities around the world. On Thursday, Brian joined the Giving Pledge by signing it officially.

Signatories are either billionaires or would-be billionaires who pledged to give away to philanthropic causes. Brian is the first crypto entrepreneur to sign up. He joins Ray Dalio, Michael Bloomberg, Elon Musk, Bill Ackman, and over 180 others in the pledge. In a blog post on The Giving Pledge website Armstrong said:

“Once a certain level of wealth is achieved, there is little additional utility from spending more on yourself. … Whether it is through creating a more level playing field, improving education, or increasing economic freedom, I am interested in helping other people see their ideas come to realization in the world.”

The Announcement

The CEO announced what he had done via a tweet on Thursday. He said that he is excited about the potential of his organization to help poor people. He acknowledged that he is still new in the philanthropic scene. The tweet said:

“I’m still early in my journey of discovering how to have the most impact via philanthropy. Today, I’m proud to join the Giving Pledge as part of this journey.”

The Giving Pledge aims at addressing most of the societal pressing problems. They invite the world’s wealthiest individuals and families to pledge over half of their wealth to charity either in their will or in their lifetime. However, he did not reveal the proportion of his wealth he had pledged to donate but he said:

“This year, I started my first philanthropic effort, It makes direct cash transfers to people living in poverty.”

The Growth

Coinbase keeps rising in leaps and bounds. The company has attracted many formidable partnerships that propelled its revenue to unimaginable levels. In the process, Brian Armstrong joined the league of the super-wealthy individuals on earth.

As we reported earlier, TokeSoft partnered with Coinbase, with a view to providing an alternative custody solution for clients. This is among the latest business expansion that Brian has overseen in 2018 despite the bear crypto markets. Now, STO issuers can enjoy either self-custody and third-party custody, in which Coinbase Custody is involved.

The company also saw significant growth since they changed their operations and management strategy. The firm stated that they are checking several tokens in the market to augment support for various new crypto assets. We have already published about what hides behind the company’s new listing strategy in an earlier post.

The strategic decisions made by Brian Armstrong and his team make Coinbase a success. Thus, it comes as no surprise to see the CEO join The Giving Pledge in an effort to give back to the community.

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