Brian Armstrong, CEO, Coinbase, was in early this year listed by Forbes as the 6th wealthiest in crypto. To share his wealth, Armstrong has joined the likes of Elon Musk, Warren Buffett, and Bill Gates in donating a considerable portion of his net worth to charitable causes. The CEO becomes the first among the wealthiest in crypto to do so.
In an official statement confirming his entry into the Giving Pledge movement founded by Buffet and Gates, Armstrong said:
“Once a certain level of wealth is reached, there is little additional utility from spending more on yourself. One’s ambition begins to move outwards. I’ve always admired founders and leaders whose ambition to improve the world supersedes any goal related to personal wealth.”
Giving Pledge was founded in 2010 and seeks to attract contributions from billionaires or soon-to-be billionaires who are ready to donate a notable percentage of their net worth to support charities around the world.
Being among the wealthiest in crypto, Armstrong has been supporting philanthropic causes where he even founded GiveCrypto.org, a not-for-profit organization that recently partnered with Coinbase to support 100+ poor families in Venezuela.
The CEO’s move may be seen as a way to influence others who constitute the wealthiest in crypto to join Giving Pledge or other charity focused organizations.
“Whether it’s through improving education, creating a more level playing field, or increasing economic freedom, I’m interested in helping more people see their ideas come to fruition in the world. My hope is that more people will write down a ‘crazy’ goal someday, just like I did ten years ago, and it will turn out to be not so crazy after all.”
Do you think more of the wealthiest in crypto will donate part of their wealth for philanthropic causes?
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