Coinbase CEO to Donate His Huge Crypto Fortune in Charity

Dec 23, 2018 at 13:30 Update Date :Dec 23, 2018 at 13:30 UTC

Brian Armstrong, the CEO of Coinbase, a crypto exchange giant based in the United States, has decided to give his huge chunk of crypto fortune wealth in charity. Coinbase CEO will be the first crypto entrepreneur to commit donating the majority of his crypto fortune for a great cause, says the report of CNBC.

According to the media reports, Armstrong has signed a given pledge – that he would giveaway his crypto fortune wealth in the charity. He said:

“, Here I’m, starting a new journey to serve people with direct cash transfers to people living in poverty. Super excited to help people. The organization’s potential is worth appreciating, and I’m still too quick to start discovering how to have more impact through philanthropy.”

Crypto Charity for the Good

The pledge given by the CEO of Coinbase is actually a campaign ignited in the year 2010 by the billionaires like Bill Gates and Warren Buffett. The aim was to utilize the wealth of the richest people in order to make the world a better place. As per the reports published on Business Insider, by the year 2022, the value of charity could be somewhere close to $600 billion.

Brian Armstrong joins the group of billionaires like Elon Musk, Mark Zuckerberg, the creator of Facebook, and Michael Bloomberg who have donated their wealth to serve the society. Zuckerberg, at the time of joining the pledge, announces that he would give away 99% of his Facebook shares during the whole life.

Brian Armstrong is currently running a billion dollar crypto exchange. After the last investment round, the crypto exchange Coinbase has made $8 billion in value.

He is worth $1.3 billion as a co-founder, says the report of Forbes. The recent fluctuations in the crypto market led to a drop in the trading volumes, and it also affected the net worth of Brian Armstrong. However, he is not so far from recovering the same amount.

He said that he always admire those who love to improve the world – and are ready to replace their personal wealth goal for the welfare of people.

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