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Coinbase CEO Becomes First Crypto-Billionaire To Give Mass Of Wealth

Brian Armstrong—Coinbase CEO—is joining the league of billionaires promising to contribute the massive of their wealth for the good cause. Brian Armstrong recently officially signed the “Giving Pledge,” initiated by Bill Gates and Warren Buffett in 2010. Signatories are either would-be billionaires or billionaires, who pledged to donate the bulk of their net worth for a philanthropic cause. Reportedly, Coinbase’s CEO is the first crypto industrialist to sign up. Armstrong joins Ray Dalio, Elon Musk, Michael Bloomberg, and Bill Ackman and over 150 others in the pledge.

Coinbase is the important US-based cryptocurrency exchange that recently collected $300 Million at an evaluation of $8 Billion. Armstrong’s stake in the firm is significant and reported $1.3 Billion, according to Forbes. Whereas Bitcoin and other cryptocurrencies have declined since Forbes anticipated in January that the founder’s net estimation ranged from $900 Million to $1 Billion. Armstrong in a blog post on the “Giving Pledge” said, “I have always respected the leaders’ and founders’ whose aim is to advance the world supersedes any aspiration connected to personal wealth.” Previously in this year, Armstrong started his first philanthropic attempt known as The nonprofit recognizes and issues cryptocurrency and takes straight cash transfers for the people who are living in poverty.

On a similar note, Coinbase was also in news for paying users to attempt Crypto assets. In an initiative announced recently, clients of the accepted crypto exchange Coinbase can get a few tokens of ZRX by taking quizzes and watching videos. Coinbase in a blog post said explaining the project that usually, the two methods people get cryptocurrency are by buying or mining. Mining the cryptocurrency typically means elevated technical knowledge and setup costs, while buying cryptocurrency needs non-refundable income to swap over for cryptocurrencies, which restricts access. Receiving the cryptocurrency is the third method.”