Coinbase ends GiveCrypto initiative, prompting crypto charity scrutiny
Coinbase is winding down the GiveCrypto initiative, citing its failure to create a lasting impact. In a blog post on Dec. 15, Coinbase said its non-profit initiative founded by the exchange’s head Brian Armstrong was “unable to create lasting change purely through unconditional cash transfers.” According to the exchange’s statement, the initiative participants “returned to the same baseline” after the cessation of payments, prompting a reevaluation of the initiative’s approach. “Unfortunately, we were unable to create a lasting impact with recipients, who returned to the same baseline after payment ceased.” Coinbase You might also like: Former Coinbase exec cancels $1m bitcoin bet, donates $1.5m to charity In light of this, all remaining GiveCrypto funds will be redirected to two organizations: Brink and GiveDirectly. Brink is also a non-profit initiative, focused on strengthening Bitcoin’s software and protocol...